IHS Markit, Symbiont settle lawsuit for $53 mln over Ipreo buy [Reuters]
IHS Markit Ltd. Common Shares (INFO)
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Source: Reuters
The company and law firm names shown above are generated automatically based on the text of the article. We are improving this feature as we continue to test and develop in beta. We welcome feedback, which you can provide using the feedback tab on the right of the page. (Reuters) - Data provider IHS Markit LTD said it paid financial services technology company Symbiont.io Inc $53 million to settle a breach of contract lawsuit over IHS Markit's acquisition of Ipreo LTS LLC, according to a filing with the U.S. Securities and Exchange Commission. IHS Markit said in its annual report on Monday that the payment settled claims that the $1.86 billion acquisition in 2018 breached a non-compete agreement between investment banking-focused technology company Ipreo and Symbiont. The non-compete was part of a joint venture the companies created to serve the syndicated loan industry. A representative for IHS Markit declined to comment on Wednesday. Symbiont's lead attorney from Paul, Weis
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