Stellex Capital acquires Fincentric from S&P Global

Acquisition Details: Stellex Capital Management, a US private equity firm with over $2.8 billion in assets, has acquired Fincentric (formerly Markit On Demand) from S&P Global for an undisclosed sum.
Background on Fincentric: Fincentric, which specializes in digital experiences and financial data distribution, became part of S&P Global following its merger with IHS Markit in 2022.
Integration with Communify: As part of the acquisition, Fincentric will be combined with Communify, a California-based company under Just Build It (JBI), to form Communify Fincentric.
New Entity Leadership: John Wise, the chairman and CEO of the newly formed Communify Fincentric, highlighted Fincentric’s significant performance, including 165 million logins per month and over 563 million page views per day.
Product Offering: Communify Fincentric will offer a SaaS product suite that includes Advisor Apps, Client Apps, and Markets Apps, all leveraging advanced AI and personalized design capabilities.
S&P Global’s Recent Activity: Prior to the sale, S&P Global participated in the €34 million Series B funding round for the Swedish climate tech start-up Doconomy.
Timeline: The acquisition is expected to be finalized during the remainder of 2024 and into the first half of 2025.