McGraw Hill Agrees to Buy SNL Financial for $2.23B

McGraw Hill Financial Inc. agreed to buy SNL Financial, the financial news and data services provider owned by buyout firm New Mountain Capital, for about $2.23 billion to add content on the banking and insurance industries.

SNL joins a roster of subsidiaries that includes Standard & Poor’s Ratings Services, the S&P Dow Jones Indices and Platts, which provides price data and analytics on commodities

McGraw Hill is buying SNL two years after staking its future on financial services by unloading its publishing business. The purchase is underscoring the interest in established firms that provide financial news and analytics. Japan’s Nikkei ...