News

(RTTNews) - BlackRock Inc. (BLK) has agreed to acquire Preqin, an independent provider of private markets data, for 2.55 billion pounds or approximately $3.2 billion in cash.

The transaction is expected to close before year-end 2024, subject to regulatory approvals and other customary closing conditions.

Private markets data is estimated to be an $8 billion total addressable market and growing 12% per year, reaching $18 billion by 2030.

In 2024, Preqin is expected to generate about $240 million of highly recurring revenue and has grown approximately 20% per year in the last three years.

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