Charlottesville, Va.—SNL Financial has acquired Highline Data from Summit Business Media. Financial terms of the deal were not disclosed.
Highline Data is a provider of information services to the insurance industry. As part of the deal, Summit will retain long-term access to information from Highline Data for use in its own products and services.
Summit said it ultimately made the decision to sell after receiving what it called a “highly advantageous and unsolicited” offer from SNL. Summit, which exited Chapter 11 protection earlier this year, said the deal further reduces its debt and strengthens its balance sheet. The company said it had no plans to sell additional assets.
DeSilva & Phillips was Summit Business Media's financial adviser in the deal.