TEMASEK Holdings has acquired a stake in financial information services provider Markit as it seeks to expand its presence in the financial and banking sectors.
Sources said that the deal was worth US$500 million for a 10 per cent stake in Markit.
"The addition of Temasek as one of Markit's largest investors further diversifies the company's shareholder base which includes employees, institutional funds and investment banks," said the Markit spokesman.
Said Mr Lance Uggla, chief executive officer of Markit: "The strength of their position and profile in Asia, an area where we see significant potential and opportunity, will help fuel our growth in the region. We look forward to their participation in our company's strategy."
Big data has been one of the biggest themes in the financial circles and an acquisition of this nature would enhance Temasek's strong assets in the financial sector.
Markit is a leading, global financial information services company with over 2,800 employees. The company provides independent data, valuations and trade processing across all asset classes in order to enhance transparency, reduce risk and improve operational efficiency.