S&P Global is acquiring Boston based Kensho for $550m as it looks to utilize its data analytics and machine learning platform on its data sets for Wall Street. The acquisition price includes a mix of cash and stock
S&P Global plans to acquire Kensho Technologies for $550 million in a deal that demonstrates the increasing importance of data analytics and machine learning technologies on Wall Street. The acquisition price includes an unspecified mix of cash and stock, and is net of cash acquired, S&P Global (NYSE: SPGI) said in a press release. Artificial intelligence has begun creeping into virtually every industry, and the financial sector is one of the first places where it seems to be making an impact. It makes sense—there’s a ton of data to crunch, and money to be made if software can help make better decisions more quickly. S&P’s purchase of Kensho is a big endorsement of that vision and the startup’s capabilities.