June 30 (Reuters) - BlackRock ( BLK ) has agreed to buy

UK data firm Preqin for 2.55 billion pounds ($3.23 billion) in

cash in an expansion by the world's biggest asset management

company into the private markets data segment.

BlackRock ( BLK ) said in a statement that the acquisition would

complement its Aladdin tech business by bringing together data,

research, and investment process for fund managers.

Aladdin is BlackRock's ( BLK ) portfolio management software which

provides investment professionals a way to view and manage daily

investments.

Preqin will also continue to be offered as a standalone

solution, the company said.

Preqin is expected to generate about $240 million of

recurring revenue in 2024 and has grown approximately 20% per

year in the last three years, BlackRock ( BLK ) said in its statement.

Preqin, which was founded in 2003, specialises in data about

the alternative investment industry. The UK-based company has

subscribers in more than 90 countries, according to the British

government's register of companies.

Reuters reported in early June that the London Stock

Exchange Group ( LDNXF ) and S&P Global ( SPGI ) were among

potential bidders for Preqin.

Its founder Mark O'Hare will join BlackRock ( BLK ) as a vice chair

after the close of the transaction.

The Financial Times earlier reported on the deal.

"Together with Preqin, we can make private markets investing

easier and more accessible while building a better-connected

platform for investors and fund managers..," said Sudhir Nair,

global head of BlackRock's ( BLK ) Aladdin.

($1 = 0.7903 pounds)

(Reporting by Surbhi Misra and Akanksha Khushi in Bengaluru;

Editing by Mark Porter, Leslie Adler and Muralikumar

Anantharaman)