LSEG Octus Acquisition Expands Credit Intelligence Data Capabilities with $3.54 Billion Deal

London Stock Exchange Group announced on October 22, 2026, that it will acquire Octus, a provider of credit intelligence data and workflows, for $3.535 billion in cash. The transaction targets Octus’s focus on public, private, illiquid, and distressed credit markets and will place the business inside LSEG’s Data & Analytics division.

LSEG Octus Acquisition Details and Financial Terms

The deal values Octus at an enterprise value to sales multiple of approximately 11.8 times, based on expected 2026 revenue above $300 million. Octus projects strong double-digit revenue growth and roughly 40 percent adjusted EBITDA margins for the year. LSEG stated the purchase will remain neutral to adjusted earnings per share in the first full year after completion and become accretive thereafter.

Financing will come from external debt. The acquisition is expected to close in the first half of 2027, pending regulatory approvals. Octus will continue to be led by founder and chief executive Kent Collier. LSEG also confirmed that the transaction will support its existing 2027 organic subscription revenue growth guidance of around 7 percent and will not alter medium-term EBITDA margin targets.

Octus currently serves more than 750 customers and over 40,000 users. The company employs more than 900 people and is headquartered in New York. Its platform supplies data and analytics for deal sourcing, risk assessment, and portfolio management across credit segments that have grown rapidly in recent years.

Strategic Context for Private Credit Analytics and Market Position

LSEG described the purchase as highly complementary to its existing fixed-income data and analytics offerings. Integration will create combined public-private credit solutions for buy-side clients, including hedge funds and alternative asset managers. The move extends LSEG’s reach into the private credit sector, which industry estimates place at roughly $3.5 trillion in assets under management.

The company noted that proprietary credit datasets remain difficult to replicate through large-language-model scraping, supporting long-term value for subscription products. This acquisition follows LSEG’s 2019 purchase of Refinitiv and represents its largest deal since that transaction. It also aligns with earlier steps into fixed-income venues, including the 2024 acquisition of Tradeweb, which brought ownership of the Trumid platform.

Octus was previously controlled by funds advised by Permira, which took a majority stake around 2022 at an enterprise value near $1.3 billion. The current transaction price reflects continued expansion of the private credit market and rising demand for integrated analytics that cover both liquid and illiquid instruments.

Market Reaction, Guidance Update, and Next Steps

LSEG shares rose between 2 and 7 percent on the announcement day, recovering some of the year-to-date decline. On the same date, LSEG reported third-quarter 2026 results showing 8.8 percent organic total income growth excluding recoveries and raised its full-year 2026 guidance to at least 8 percent organic income growth plus 100 to 120 basis points of EBITDA margin expansion.

Post-close integration will focus on combining Octus data with LSEG fixed-income terminals and workflow tools. LSEG indicated that leverage will move toward the upper end of its 1.5 to 2.5 times target range by the end of 2027 before returning to the middle of the band. Regulatory filings are expected to proceed in major jurisdictions during the coming months.

Buyers of credit data and analytics platforms can expect expanded coverage of private-market instruments once the deal closes. Portfolio managers and risk teams using LSEG terminals will gain additional datasets for distressed and illiquid credit without switching vendors.