McGraw Hill agrees to acquire SNL Financial for $2.23B

McGraw Hill Financial Inc. agreed to buy financial news and data services provider SNL Financial for about $2.23 billion to add content on the banking and insurance industries.

In a statement released Monday, McGraw Hill said the economic impact of the acquisition of SNL Financial from owner New Mountain Capital would be partly offset by tax benefits presently valued at $550 million.

New York-based McGraw Hill sold its education business in 2012 to Apollo Global Management for $2.5 billion to focus on financial services. Subsidiaries include Standard & Poor’s Ratings Services and the S&P Dow Jones Indices.

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