Markit to Acquire Prism Valuation

Expands Portfolio Valuation services and customer base

LONDON & NEW YORK--(BUSINESS WIRE)-- Markit (Nasdaq: MRKT), a leading global provider of financial information services, today announced that it has agreed to acquire Prism Valuation a leading provider of independent valuation and risk analysis of derivatives and structured products.

The acquisition will complement Markit’s leading Portfolio Valuations service and enable Markit to offer customers enhanced coverage of complex OTC derivatives and structured OTC products. It will also expand Markit’s customer base among regional banks and structured product issuers.

Adam Kansler, co-head of Information at Markit, said: “We’re very excited to welcome Prism Valuation’s extensive expertise with complex OTC products, giving us exceptional valuation capabilities across the full spectrum of asset classes. Prism Valuation complements our industry-leading, independent valuation services, helping customers comply with regulatory, auditor and investor demands for independent valuations, transparency and risk analysis.”

Keldon Drudge, founder and ceo of Prism Valuation, said: “Markit’s scale and global reach will allow us to better support our customers and will also accelerate innovation and further development of our platform. Our shared focus on providing independent, high quality valuations will help firms comply with evolving regulatory requirements and satisfy investors’ risk management demands.”

Prism Valuation’s customers include regional banks, custodians, asset managers and issuers of structured notes.

The acquisition is expected to close in the coming weeks. Financial terms were not disclosed. The transaction will not have a material impact on Markit’s financial results in 2016. Following completion of the acquisition, Prism Valuation will be integrated with Markit Portfolio Valuations in the Valuation and Trading Services segment of Markit’s Information division.

Notes to Editors

About Markit

Markit is a leading global provider of financial information services. We provide products that enhance transparency, reduce risk and improve operational efficiency. Our customers include banks, hedge funds, asset managers, central banks, regulators, auditors, fund administrators and insurance companies. Founded in 2003, we employ over 4,200 people in 13 countries. Markit shares are listed on Nasdaq under the symbol MRKT. For more information, please see www.markit.com.

About Prism Valuation

Prism Valuation Corp. is a leading provider of independent valuations and risk analysis services for OTC derivatives and structured products to financial institutions. Founded in 2006, Prism Valuation is headquartered in Toronto with 38 employees and offices in London and Melbourne. For more information, please see www.prismvaluation.com.

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Markit
Ed Canaday, +1 646 679 3031
[email protected]
or
For investor enquiries:
Matthew Kolby, +1 646 679 3140
[email protected]

Source: Markit

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