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The London Stock Exchange Group (LSEG) has agreed to buy data provider Refinitiv for $27bn, sealing a
 
August 4 · Issue #155 · View online
Brainfood
The London Stock Exchange Group (LSEG) has agreed to buy data provider Refinitiv for $27bn, sealing a deal aimed at turning LSEG into a global markets and information powerhouse and establishing a British rival to Michael Bloomberg’s financial data empire.
Chief Executive of LSEG, David Schwimmer, said:
“When I arrived at LSEG, we went through an exercise to refine our strategic objective to be a leading financial-market infrastructure provider. To achieve this ambition, we needed to become truly global, diversify by asset class and significantly improve our capabilities in data and analytics. It became very clear that one way to do that in a single step was a transaction with Refinitiv.
The transaction will result in Refinitiv’s shareholders – a consortium of investment funds affiliated with Blackstone as well as Thomson Reuters – ultimately holding an approximate 37% economic interest in LSEG and less than 30% of the total voting rights of LSEG. The deal is yet to receive regulatory scrutiny.

Motive Podcasts
Next week on the Future of Finance podcast series, we bring you Uzy Zwebner, Co-founder of Be'er-Sheva’s Cyber Park in Israel and Founder & President of Innovation Basecamp, a unique business platform and investment vehicle founded as a partnership between private and academic entities.
Our favourite moment?
09:25 - Don’t give up. Don’t be afraid to fail. You should fail. Just learn from it.
All episodes are on Apple PodcastsSpotify or Google Podcasts.
FinTech of the Week
Our FinTech of the Week is Crowdstacker, an alternative investment platform that has recently announced plans to launch the UK’s first auto-switching savings account, Kepe.
Why Kepe?
Kepe, promises to end the ‘loyalty penalty’ by automatically moving cash savings to get better interest rates.
Kepe will do for people’s cash savings and cash ISAs what auto-switching has begun to do for household energy bills. It removes the need to manually search for, and switch to, new accounts when initial preferential rates have expired and every time customers send money to their savings.
Customers will be able to sign up to one account, just once, and from then on their money will be automatically moved to different savings accounts best suited to meet their specific savings needs and offering the best rates available to each saver.
An initial panel of partner banks will be offering highly competitive rates across a range of easy access, notice, fixed term and cash ISA products.
How can I find out more?
Savers are invited to pre-register now and benefit from a range of special rewards including zero fees on up to £1,000 saved and incentives to refer to friends and family including the chance to win £10,000.
Find out more here.
Upcoming Industry Events
Select M&A Activity
Britain's LSE delivers 'defining' $27 billion Refinitiv deal in data drive
FIS Completes Acquisition of Worldpay
Fiserv-First Data Merger Is Complete
Amazon buys Israeli startup E8 Storage
American Express buys supplier payment automation platform Acompay
FNZ acquires GBST after £150m deal
Select Funding Activity
What We're Reading This Week
Schwimmer’s LSE-Refinitiv Deal Had Roots at Harvard and Goldman
Walmart Filed Patent for Digital Coin Creation
Google To Allow EU Android Owners To Choose Default Search Engine
Bad Times in Tech? Not if You’re a Start-Up Serving Other Start-Ups
Facebook's Libra and the scourge of hot money
Facebook Will Add Its Name to Instagram and WhatsApp
Patent agencies challenged to accept AI inventor
Revolut launches commission-free share trading
How Fintech Is Eating The World
Apple preps iPad Apple Card app for August launch, ends Barclays rewards
Apple Card will not allow purchase of cryptocurrencies
Digital bank Atom starts to make money on loans
The Fintech Revolution: Who Are The New Competitors In Banking?
In South African townships, 'unseen' businesses catch a big bank's eye
MoneyGram Sees Transaction Growth Outside US, Led By Digital Efforts
Failure of Japan’s 7pay system deals blow to payments industry
The Globalisation Of Fintech - The Australian Example (Part 1)
Ipagoo customer accounts frozen after FCA intervention
The small nations going big on cryptocurrency
Reaching the unbanked — MTN to shake up Nigeria’s fintech sector
TSE launches data sandbox for securities tech
Regulation, Protection & Privacy
US Department of Justice must make antitrust fit for the age of Big Tech
FTC Antitrust Probe of Facebook Scrutinizes Its Acquisitions
FTC Investigating Facebook's Acquisition Of Instagram and WhatsApp
After The Capital One Leak: Can Anything Stop The Data Breaches?
Google ordered to halt human review of voice AI recordings over privacy risks
FCA provides clarity on current crypto-assets regulation
Apple suspends Siri response grading in response to privacy concerns
Indonesia Cracks Whip on Mushrooming Illegal Fintech Firms
Experts weigh in on Libra and digital currencies at Senate committee
Key Hires & Talent
Sponsored by JBM Consulting.
The CFTC Fintech Chief Who Oversaw Early Blockchain Trials Is Leaving
Revolut hires top Metro Bank executive as finance chief
AML Group has appointed ex Saatchi & Saatchi pro ECD, Ross Garden
Dolfin hires Richard Webb as Head of Technology
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