S&P Global Inc. (SPGI), the financial and credit rating major, Friday announced that it has agreed to sell its geoscience and petroleum engineering software portfolio to SLB, a tech company.
Financial details of the transaction, which is expected to close in the second half of this year or early 2027, have not been divulged.
The parties have also entered an agreement to expand their partnership through further data distribution and collaboration on building new AI models to transform upstream business use cases, the company said in a statement.
Additionally, the rating agency will launch an AI-powered upstream data platform known as Titan, designed to transform how customers discover, analyze, and act on high-quality data and insights.
As per the company, Titan is being built on comprehensive global coverage spanning 113 countries, will serve an estimated 110,000 users across 4,000 client organizations, scaling from individual analysts to global enterprises and is currently in beta testing with select customers. It is scheduled for a full commercial launch later this year.
In pre-market activity, SPGI shares were trading at $439.99, up 0.22% on the New York Stock Exchange.
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