Global credit rating agency Moody’s Corp is acquiring the remaining stake in Copal Amba, which provides offshore research, analytics and business intelligence services to the financial and corporate sectors and has large operations in India and Costa Rica, as per a press statement.
The terms of the latest transaction were not disclosed by the company. The deal, which will be funded from its cash on hand, is expected to be finalised in the current quarter. the acquisition is unlikely to have an impact on Moody's earnings per share in 2014, the company said in the statement.
Currently, Moody's owns controlling equity stake in Copal Amba. In December last year, the credit ratings agency had acquired Bangalore-based Amba Investment Services Ltd, backed by Helion Venture Partners, through its subsidiary Copal Partners -- a Gurgaon-based KPO which was acquired by Moody's in 2011. Following the acquisition the company was renamed as Copal Amba.
“Copal Amba has had strong momentum since its formation and has expanded its penetration into the growing market for outsourced financial research, analytics and business intelligence services,” Linda S. Huber, executive vice president and CFO of Moody's, said.
The clients of Copal Amba range from global financial institutions and Fortune 100 corporations to boutique investment banks and asset managers.