Hg Considers Sale of $1.9 Billion Financial Data Firm FE fundinfo

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Buyout firm Hg is preparing to potentially sell its financial data company FE fundinfo, valued at around $1.9 billion, sources told Reuters. The London-based firm, which provides investment data and performance analytics to asset managers and financial institutions, is expected to generate roughly £70 million ($93.2 million) in EBITDA this year and could command a valuation exceeding 20 times earnings.

While no final decision has been made and preparations remain at an early stage, Hg is anticipated to launch a sales auction by late 2025, although the timeline could extend into 2026. FE fundinfo is likely to attract interest from global exchanges, wealth management firms, and private equity groups.

This move follows a trend of high-valuation deals in the financial technology and data sector, including SS&C Technologies’ £766 million acquisition of Calastone and BlackRock’s £2.55 billion purchase of Preqin last year. FE fundinfo itself was formed in 2018 through the merger of three companies—FE, F2C, and fundinfo—the same year Hg invested.

The company has been active in expanding its footprint with five acquisitions in the past year, such as data firm Fundipedia, UK’s Lunar AI, and German fintech Dericon. FE fundinfo aims to streamline investment efficiency by connecting fund managers and distributors to share trusted information.

Hg and FE fundinfo declined to comment on the potential sale.

Australia’s eSafety Commissioner Criticizes YouTube, Apple for Failing to Address Child Abuse Material

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Australia’s internet safety regulator, the eSafety Commissioner, released a report on Wednesday accusing major social media platforms, notably YouTube and Apple, of “turning a blind eye” to online child sexual abuse material (CSAM). The watchdog highlighted YouTube’s unresponsiveness to inquiries and its failure to track user reports and response times related to CSAM.

The report found that YouTube, along with Apple, could not provide data on the number of user reports about child abuse content or the speed of their responses. The Australian government recently decided to include YouTube in its groundbreaking ban on social media use for teenagers, reversing an earlier exemption based on the Commissioner’s advice.

Julie Inman Grant, eSafety Commissioner, stated that these companies fail to prioritize child protection and are allowing serious crimes to occur unchecked on their platforms. She emphasized that no other consumer-facing industry would be permitted to operate while enabling such crimes.

In response, a Google spokesperson clarified that eSafety’s criticisms were based on reporting metrics rather than overall safety performance, noting that YouTube proactively removes over 99% of abuse content before it is flagged or viewed.

The report also assessed other platforms, including Meta (Facebook, Instagram, Threads), Apple, Discord, Microsoft, Skype, Snap, and WhatsApp, finding “safety deficiencies” such as failures to detect or block livestreaming of abuse content, inadequate reporting mechanisms, and inconsistent use of hash-matching technology to identify known abuse images.

Despite warnings in prior years, some companies have not sufficiently addressed these gaps. The report specifically noted that Apple and YouTube did not disclose how many trust and safety staff they employ or detailed information about user reports on child abuse content.

Nvidia Denies Backdoors in Chips, Warns US Against Mandating Location Verification

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Nvidia (NVDA.O) reiterated in a blog post on Tuesday that its chips do not contain backdoors or kill switches, urging U.S. policymakers to avoid proposals that would require embedding location verification technology in advanced chips. Nvidia warned that such measures would effectively be a “gift” to hackers and hostile actors by creating vulnerabilities.

The statement follows a recent meeting between Nvidia and the Chinese government, which expressed concerns about a U.S. proposal to require chipmakers to include tracking and positioning functions in their products sold abroad, aimed at preventing unauthorized sales to restricted countries. While the White House and U.S. Congress have proposed such measures, no formal rules or technical standards have yet been established.

Nvidia emphasized that backdoors—hidden methods to bypass security controls—pose serious risks. The company stressed, “there is no such thing as a ‘good’ secret backdoor—only dangerous vulnerabilities that need to be eliminated,” reinforcing that their products do not allow remote access or control.

The tech giant warned that embedding backdoors or kill switches in chips would undermine global digital infrastructure and damage trust in U.S. technology worldwide.