The S&P Global logo is displayed on its offices in the financial district in New York City, U.S., December 13, 2018. REUTERS/Brendan McDermid/File Photoplans to sell its engineering solutions business and has confidentially engaged with several prospective buyers, the market intelligence and ratings agency said on Wednesday.
The decision to sell the unit follows S&P Global's $44 billion acquisition of data firm IHS Markit earlier this year. The engineering solutions division serves more than 6,000 customers globally. Its products help engineers, builders and architects access the data and insights needed to deliver complex projects and new products.
S&P Global reported a 37% rise in revenue in the third quarter due to the inclusion of IHS Markit's businesses. On an adjusted basis, revenue was 8% lower.Reporting by Yuvraj Malik in Bengaluru; Editing by Devika Syamnath