i-Deal and Hemscott merge to form Ipreo; acquires Marketpipe

i-Deal and Hemscott merge to form Ipreo; acquires Marketpipe

Capital markets software house i-Deal has merged with financial data provider Hemscott to form a new company dubbed Ipreo, in a deal overseen by private equity investor Veronis Suhler Stevenson.

Ipreo has further announced the acquisition of Marketpipe, a UK-based provider of financial services technology focusing on new-issuance fixed income solutions.

Ipreo will have approximately 600 employees globally, based in the US, UK, and India. Combined revenues will be approximately $100 million for 2006.

As a result of the transaction, Ipreo is majority owned by Veronis Suhler Stevenson LLC, with significant minority stakes held by Citibank and Merrill Lynch, the original sponsoring members of i-Deal.

Under the new organisation, Scott Ganeles will be CEO, Kevin Marcus will be President and COO, and Ros Wilton will be Chairman.

i-Deal specialises in the capital raising and new issue arena, providing software and analytics to investment banks globally across the equity, fixed income and municipal markets. Hemscott is an international supplier of business and financial information and online corporate investor relations services. Hemscott also owns bigdough, the investor contact database and CRM system used by investment banks and listed corporations.

The first initiative of the newly formed organisation is the acquisition of privately held Marketpipe. The company operates a full new issue network and also licenses its products directly to banks. Marketpipe was formed in 2000 and currently has 19 investment banking clients and approximately 30 employees in its London office.

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