S&P Global announced its intention to separate S&P Global Mobility into a standalone public company, the company announced Tuesday.
"S&P Global is a leader providing essential intelligence with a proven history of strong financial performance and durable growth," says Martina L. Cheung, president and CEO. "Separating Mobility will allow us to continue to focus on our core businesses and pursue our growth strategy."
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S&P Global will continue providing credit ratings, benchmarks, analytics and workflow solutions with S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights and S&P Dow Jones Indices.
Mobility will have three divisions. Used vehicle sales and service, including CARFAX; strategy and product planning, and new vehicle sales and marketing.
The separation will allow Mobility more flexibility to pursue near- and long-term growth opportunities, the company says. In 2024, Mobility generated $1.6 billion in revenue. The separation will be completed in 12-18 months, S&P says.
