The owner of the Daily Mail has agreed to sell its US property data arm for $1 billion in cash.
Trepp was founded in 1979 and acquired by the Daily Mail and General Trust plc in 2004.
It has grown into a provider of data, insights and technology for the structured finance, commercial real estate and banking industries.
Rothermere Continuation Holdings, parent company of DMGT, agreed the sale to Fitch Group, a global leader in financial information services.
The timing of completion is subject to satisfaction of customary closing conditions, including regulatory clearance.
Lord Rothermere, executive chairman, commented: “We acquired Trepp more than two decades ago and I am immensely proud of Annemarie DiCola (pictured) and her team for building a world-class digital information business.
“Fitch will be a brilliant long-term custodian for Trepp. It has the pedigree and experience to drive the next stage of Trepp’s growth.
“I have no doubt that Trepp’s employees and customers can look forward to the future with confidence under Fitch’s ownership.”
Centerview Partners and Goldman Sachs acted as financial advisers and Baker McKenzie as exclusive legal adviser to RCHL during the disposal process.