IHS Inc. and Markit Ltd. have completed their previously announced merger to form IHS Markit (Nasdaq: INFO), a provider of critical information, analytics and solutions. IHS Markit began trading under the trading symbol “INFO” on the Nasdaq Global Select Market today.
“With our unique positions in energy, financial services and transportation, the sky is the limit in terms of the analytics and next-generation solutions we will provide to customers worldwide and across industries, as the new global information leader,” said Jerre Stead, chairman and CEO of IHS Markit.
In accordance with the terms of the merger agreement, IHS stockholders will receive 3.5566 common shares of Markit (now renamed IHS Markit) in exchange for each share of IHS common stock, which will no longer be publicly traded.
On March 21, 2016, IHS and Markit first announced the signing of a definitive agreement under which the companies would combine in an all-share merger. The combined company’s reported results for fiscal year 2015 include approximately $3.3 billion in revenue, $1.2 billion in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), and $800 million in free cash flow.