DBOEY - Deutsche Börse to acquire controlling stake in ISS bolstering ESG data business

Deutsche Börse ([[DBOEY]] -1.0%) agrees to acquire an ~80% stake in proxy advisory firm Institutional Shareholder Services, valuing ISS at ~$2.28B, a move that will strengthen Deutsche Börse's presence in ESG data.It complements last year's creation of Qontigo, formed from the combination of the analytics capabilities of Axioma with Deutsche Börse's existing STOXX and DAX index businesses, the company said.Genstar Capital and ISS's current management will continue to hold an ~20% stake in the company.Transaction is expected to close in H1 2021."The partnership of ISS with the leading index and analytics capabilities of Qontigo, which is also part of the Group, will open opportunities for ESG growth on both sides," according to Deutsche Börse.Sees revenue synergies increasing EBITDA by EUR 15M by 2023.

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Deutsche Börse to acquire controlling stake in ISS, bolstering ESG data business