Stock Groups

London Stock Exchange sells wealth business unit for $1.1 billion -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The London Stock Exchange Group office can be seen in London on December 29, 2017, Britain. REUTERS/Toby Melville/File Photograph

LONDON, (Reuters) – The London Stock Exchange Group (LON 🙂 announced Monday that it would sell its wealth management technology operation BETA+ to Clearlake Capital Group affiliates for $1.1 million to reduce the exchange’s leverage.

“Moreover, LSEG has announced it has entered into a strategic long-term partnership for data content and tools, with BETA+ as well portfolio companies held by Motive or Clearlake.” LSEG released a statement.

According to the exchange, the partnership will bring LSEG new, recurring revenue at attractive growth rates via access to new client segment.

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