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Data analytics and technology information provider IHS Markit (INFO) - Get Free Report on Tuesday revealed that it is selling its aerospace and defense publishing unit Jane's Intelligence for $470 million.

The London-based technology and data analytics company announced the sale in its third-quarter earnings statement. While it did not disclose the buyer or terms, a separate announcement from private-equity firm Montagu confirmed the companies have struck a deal.

"Jane's insights are respected and valued across the aerospace, security and defence industries and we look forward to working with Blake and his leadership team deliver on the next step in their growth strategy," Montagu director Ed Shuckburgh said in the statement. 

IHS Markit said it earned adjusted net income of $276.3 million, or 67 cents a share, in the third quarter, up from $234.1 million, or 58 cents a share, in the comparable year-earlier period. Analysts polled by FactSet had been expecting earnings of 63 cents a share.

Revenue came in at $1.11 billion, up 6% from a year ago and slightly above analysts' forecasts.

The company also raised its full-year guidance, saying it now expects adjusted per-share earnings "at the high end of the prior guidance range" of $2.52 to $2.57 a share, on revenue of between $4.4 billion and $4.42 billion.

IHS Markit CEO Lance Uggla said in a statement that the board intends to approve at its October meeting an "updated capital allocation framework" that includes additional share buybacks as well as the initiation of a quarterly dividend.

Shares of IHS Markit were down about 1% at $66.26 in early New York trading on Tuesday.