LSEG agrees .5bn acquisition of credit intelligence provider Octus

London Stock Exchange Group (LSEG) has agreed to acquire credit intelligence provider Octus for .535bn in cash, as it expands data and analytics capabilities across fixed income and private credit.

The deal is LSEG’s largest acquisition since its bn purchase of Refinitiv in 2019 and is subject to customary regulatory approvals and closing conditions. It is expected to complete in the first half of 2027.

Octus, formerly Reorg, provides credit intelligence, data and workflow tools to banks, investors, law and advisory firms, particularly in leveraged finance, private assets and distressed companies.

The acquisition will combine Octus’ specialist information with LSEG’s data, analytics and workflow capabilities, strengthening its credit proposition. David Schwimmer, chief executive of LSEG, said it would also provide the group with access to highly specialised proprietary information that would be difficult for large language models to replicate.

“Acquiring Octus enables LSEG to deliver best-in-class credit data, intelligence and workflows, across the liquidity spectrum, to a broader range of customers,” he said.

Meanwhile, Kent Collier, CEO of Octus, said the company’s customer-first mindset was a “natural cultural fit with LSEG”.

“Joining LSEG will pair our data, intelligence and workflows with global distribution and fixed income depth: a combination that provides tremendous opportunity for further growth and expansion,” he added.

The transaction comes as financial data providers face questions over AI’s potential to reshape how market intelligence is created, distributed and used. LSEG has been expanding its AI capabilities and seeking to derive greater value from proprietary data.

Permira, which acquired Octus in 2022, said the provider had developed into an AI-native credit platform, combining proprietary information with automated analysis and workflow tools. So far in 2026, the platform has completed more than four million automated classifications, one million structured data extractions and more than 250,000 content summaries.

LSEG chief financial officer Michel-Alain Proch said Octus was expected to generate between 0m and 0m in revenue this year. The debt-financed acquisition is expected to be neutral to adjusted earnings per share in the first full year after completion, before becoming accretive thereafter.

The deal follows Tradeweb Markets, which is majority-owned by LSEG, announcing plans to acquire bond-trading platform Trumid for almost bn earlier this week.