S&P Global has recently announced that it will acquire Kensho, a Cambridge, Massachusetts startup that has concentrated on artificial intelligence and analytics for big financial institutions.
Kensho is a Data Analytics and Machine Intelligence Company. Kensho deploys scalable machine learning and analytics systems across the most critical government and commercial institutions in the world to solve some of the hardest analytical problems of our time.
The total value of the deal is said to be around $550 million in a mix of cash and stock.
Kensho was launched in 2013 and has raised $67.5 million. It had counted S&P Global as a client/partner and an investor. S&P Global led the funding round in the most recent funding for $50 million in February 2017. They apparently liked Kensho so much, they bought the company.
S&P global president and CEO Douglas Peterson said in a statement announcing the deal, “In just a short amount of time, Kensho’s intuitive platforms, sophisticated algorithms and machine learning capabilities have established a wide following throughout Wall Street and the technology world.”
As per the deal, S&P Global will provide with financial resources it couldn’t provide alone through conventional funding channels. To solve those big artificial intelligence problems requires world-class engineers, and that requires an owner or investor with deep pockets.
S&P Global also says that it will leave Kensho mostly alone and let it do what it’s been doing. It will continue to operate as an independent brand out of its Cambridge offices.
more recommended stories
Slack is prepping an IPO for next year, with Goldman Sachs as its lead underwriter – TechCrunch
Slack, the workplace messaging company, has.
Mail digitizing service Earth Class Mail acquires receipt digitizing service Shoeboxed – TechCrunch
Earth Class Mail, a company that.
Taxfix Closes $13 Million in Series A Funding
Taxfix, the Berlin-based startup that.
Another attainment for French carpooling platform, BlaBlaCar
Another attainment for French carpooling.