Refinitiv Holdings Limited
2021
$27.0B
Why
Transformative acquisition of global financial data and market infrastructure giant Refinitiv.
Outcome
Generates over 70% of consolidated group revenue.
London Stock Exchange Group
Financial Market InfrastructureFounded 1801- HQ today: 10 Paternoster Square, London, EC4M 7LS, United Kingdom
Reviewed by Swet Parvadiya
Company data updated: December 2024
Acquisitions
London Stock Exchange Group Acquisitions
3
Major Deals Covered
$30.7B
Disclosed Deal Value
What are London Stock Exchange Group's biggest acquisitions?
London Stock Exchange Group's largest disclosed acquisition here is Refinitiv Holdings Limited for $27 in 2021. This page covers 3 major deals from 2011 to 2021, each with its price where disclosed and the reason behind it.
- Major deals covered
- 3
- Largest deal
- Refinitiv Holdings Limited ($27)
- First deal
- 2011
- Most recent
- 2021
| Company | Year | Price | Purpose |
|---|---|---|---|
| Refinitiv Holdings Limited | 2021 | Undisclosed | — |
| LCH Group Holdings (London Clearing House) | 2011 | Undisclosed | — |
| Frank Russell Company (Russell Investments / FTSE Russell) | 2014 | Undisclosed | — |
- What companies has London Stock Exchange Group bought?
- Major acquisitions by London Stock Exchange Group documented here include Refinitiv Holdings Limited (2021), Frank Russell Company (Russell Investments / FTSE Russell) (2014) and LCH Group Holdings (London Clearing House) (2011).
- What is London Stock Exchange Group's most recent acquisition?
- The most recent London Stock Exchange Group acquisition documented here is Refinitiv Holdings Limited, in 2021, for $27.
Frank Russell Company (Russell Investments / FTSE Russell)
2014
$2.7B
Why
Acquisition of U.S. index and asset management pioneer Frank Russell Company.
Outcome
Benchmarks over $15 trillion in global institutional investor assets.
LCH Group Holdings (London Clearing House)
2011
$1.0B
Why
Acquisition of majority control in Europe's premier multi-currency clearing house.
Outcome
Clears over 90% of global cleared interest rate swaps through LCH SwapClear.
London Stock Exchange Group's Growth & Acquisition Strategy
LSEG's corporate growth strategy is driven by three expansion engines: (1) Scaling the 10-year enterprise cloud and AI partnership with Microsoft, integrating LSEG Workspace financial data, real-time analytics, and automated financial modeling directly into Microsoft 365, Teams, and Azure OpenAI; (2) Expanding fixed income and derivatives trading through Tradeweb, monetizing the global migration from voice trading to automated electronic execution; and (3) Scaling FTSE Russell benchmark indices and sustainable ESG data products across private markets, multi-asset portfolios, and emerging market fixed income.
How London Stock Exchange Group Makes Money
LSEG operates an elite, highly recurring subscription and transaction business model organized across three core operational divisions: (1) Data & Analytics (generating over 70% of revenue): delivers financial market data, desktop workflows (LSEG Workspace), real-time pricing feeds, enterprise data management, and benchmark indices (FTSE Russell); (2) Post Trade & Clearing: operates LCH, the world's leading clearing house, earning recurring multi-currency clearing and compression fees by clearing over 90% of global over-the-counter interest rate derivatives; and (3) Capital Markets: operates the London Stock Exchange, Tradeweb (leading electronic fixed-income and derivatives trading venue), and global foreign exchange platforms (FXall), monetizing trading transaction volume and primary corporate IPO listings.
London Stock Exchange Group Acquisitions FAQ
What was the largest acquisition in LSEG history?
The largest transaction was the $27 billion acquisition of Refinitiv, announced in 2019 and completed in January 2021, which fundamentally transformed LSEG into a market data and technology leader.
Why did LSEG acquire LCH Group?
LSEG acquired majority control of LCH in 2012 to diversify into post-trade clearing, capturing massive multi-currency clearing flows through SwapClear following post-financial crisis clearing mandates.
What regulatory divestiture did LSEG make to buy Refinitiv?
To secure European Commission antitrust approval for the Refinitiv acquisition, LSEG divested Italian exchange operator Borsa Italiana Group to Euronext for €4.4 billion in early 2021.
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