November 30, 2022

The London Stock Exchange Group has agreed to divest BETA, Maxit, and Digital Investor (collectively BETA+) to affiliates of Clearlake Capital Group L.P and Motive Partners for total cash consideration of $1.10 billion, before tax and separation costs.
LSEG expects to close the deal in 2H22. LSEG plans to return a significant proportion of the net proceeds to shareholders via a buyback.
BETA+ provides back-office processing solutions to the wealth management industry, including securities processing and tax reporting.
In 2021, BETA+ had revenues of $300 million, primarily linked to U.S.markets.
Andrea Remyn Stone, Group Head Data & Analytics, LSEG, said, "The divestment of BETA+ will focus LSEG's Wealth business on meeting our customers' needs in high growth areas."
LSEG acquired BETA+ as a part of the Refinitiv deal. Earlier, Refinitiv was part of Thomson Reuters Corp (NYSE: TRI), which was then acquired by LSEG for $27 billion.
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