Shearman & Sterling is advising McGraw Hill on the sale of its McGraw Hill Construction division, which sells commercial-real-estate information to developers and manufacturers, to Symphony Technology Group in a transaction valued at $320 million, subject to certain adjustments. The closing of the transaction is subject to the satisfaction of customary closing conditions, including the expiration of the waiting period under the HSR Act. The transaction is expected to close in the fourth quarter of 2014.
McGraw Hill (NYSE: MFHI) is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. McGraw Hill’s iconic brands include Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL and J.D. Power. McGraw Hill has approximately 18,000 employees in 30 countries.
Symphony Technology Group is a strategic private equity firm with the mission of investing in and building great software and services companies.