Ipreo sold for a reported $975 million

08/06/2014 4:04 PM

08/06/2014 4:05 PM

Ipreo, the New York firm that last year established a major presence in downtown Raleigh, has been acquired by private equity firm Blackstone and the merchant banking arm of Goldman Sachs.

Kohlberg Kravis Roberts & Co., another private equity firm that acquired Ipreo in 2011, sold the business for an undisclosed sum. But several news outlets, citing unnamed sources, have reported a $975 million sale price.

“Ipreo is an extraordinary company with tremendous potential for growth,” Martin Brand, senior managing director of Blackstone, said in a statement.

The sale, which was announced in April, was completed Thursday.

Ipreo, which provides market intelligence and technology to investment banks and other businesses, has more than 800 employees worldwide.

The company currently employs 182 workers at the Bank of America building in downtown Raleigh and anticpates having 250 by 2017. It could receive as much as $3.8 million in state incentives if it meets its job-creation and investment targets.

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