The With Intelligence case study

Overview

In November 2025, S&P Global completed its $1.8 billion acquisition of With Intelligence, a leading provider of private markets data and analytics.

This transaction demonstrates Motive's IOI model in action—transforming a high-quality information services business into a scaled data and analytics company with real scarcity value. The video captures the full story: from identifying the opportunity during a challenging macro environment in 2023, to deploying deep operational expertise and innovation capabilities, to delivering a strategic exit in half the typical timeframe.

Earlier this month, we announced the planned acquisition of With Intelligence. WithIntelligence brings an incredible amount of differentiated data on private markets, including extensive data in private equity, private credit, infrastructure, hedge funds and family offices. This unique combination will allow S&P Global to provide essential intelligence to customers that they will not be able to get from any other provider. The team at With Intelligence has built a truly incredible company. Our goal is to create the most comprehensive solution for private markets participants anywhere in the world.

Martina Cheung, CEO of S&P Global

‍

Financial services are evolving. Data has become the differentiator, and we built something rare. That scarcity value made this exit possible.

Neil Cochrane, Partner, Motive Partners

‍