NEW YORK – S&P Global is buying IHS Markit in a $44 billion all-stock deal that joins two of the largest data providers to Wall Street.Data collection has become pivotal on Wall Street as algorhythms and high-speed trading overtake the traditional picking of stocks.
Growth has been explosive for companies that do it well. IHS and Markit joined just four years ago to create a $13 billion company.
The company is now worth close to $37 billion. The newcomer IHS Markit is being acquired by a company with roots dating back to the 19th century, when Henry Varnum Poor published the History of the Railroads and Canals of the United States to provide transparency for investors.