RateWatch to be integrated into S&P Global Market Intelligence

S&P Global has agreed to acquire the data business from TheStreet

By Francis Monfort

22 Jun 2018

S&P Global has announced that it entered into an agreement with TheStreet to acquire its RateWatch business as part of efforts to enhance its bank analytics and data offerings.

RateWatch is a B2B data business that offers subscription and custom reports on bank deposits, loans, fees, and other product data to the financial services industry. The business provides clients with a bank deposit and loan rate database covering almost 100,000 institutions dating back about 20 years. Founded in 1989, RateWatch was acquired by TheStreet in 2007.

S&P Global said it plans to integrate the business into its S&P Global Market Intelligence division, which provides intelligence for individuals, companies, and governments through financial and industry data, research, and news. The company expects the acquisition to bolster the division’s relationships with the banking and credit union sector, in which it has more than 4,200 clients.

Under the agreement, S&P Global will acquire the business for $33.5 million in cash, subject to working capital and certain other customary adjustments.

"RateWatch's robust datasets complement and strengthen our core capabilities of providing differentiated data and analytics solutions for the banking sector," said Mike Chinn, president of S&P Global Market Intelligence and executive vice president of data and technology innovation for S&P Global. "S&P Global Market Intelligence has a strong record of servicing the community bank market, and we're excited to expand our products for one of our fastest-growing market segments."