Private equity major Carlyle Group has said it will partner with two other investors to acquire US-based financial data provider Dealogic.
Carlyle and co-investors Randall Winn, the former chief executive of Capital IQ, and London-listed financial publisher Euromoney Institutional Investor will purchase the data and software platforms provider in a deal valued at $700m (£438m, €559m).
Equity for the transaction will come from Carlyle Partners VI, a $13bn US Buyout fund, according to a Carlyle statement.
The acquisition is subject to customary regulatory approvals and is expected to close by the end of 2014, the statement added.
Carlyle said Dealogic provides its solutions to over 500 clients globally, including each of the world's top 50 investment banks.
Carlyle Group's Managing Director Cam Dyer said in the statement: "Dealogic is a globally recognized and trusted brand and its software and data platform is the de facto standard for the investment banking industry.
"Through its 30-year history, Dealogic has invested heavily in developing its technology to create solutions that drive productivity and profitability for its customers and has become an increasingly important part of its customers' critical work flows.
"We believe that Dealogic, with its talented management and employee base, will build on that success by introducing newly developed SaaS solutions and growing via acquisition to expand its relationships with customers."
Dealogic Chief Executive Tom Fleming said: "...We are excited to partner with Carlyle and will benefit enormously from their significant experience in the financial services technology sector and deep relationships across the financial community..."
Nasdaq-listed Carlyle's stock has lost some 20% so far this year, valuing the firm at $9.12bn.
In November 2013, Pearson, the owner of the Financial Times and Penguin Books, sold financial information subsidiary Mergermarket to private equity player BC Partners for £382m.