CRISIL announce plans to acquire Greenwich Associates

On Friday, CRISIL announced that its board had approved 100 per cent acquisition of the Greenwich Associates LLC and its subsidiaries at a consideration of US$40 million, subject to closing adjustments.

Greenwich Associates is a provider of proprietary bench-marking data, analytics and qualitative, actionable insights that help financial services firms across the world measure business performance. Headquartered in Stamford, Connecticut, the company has a presence in the US, Canada, Europe, Asia, and Japan. The businesses acquired by CRISIL had consolidated revenues from operations of US$54 million in FY 2016, US$45 million in FY 2017, and US$49 million in FY 2018.

The deal is expected to be completed in the first quarter of the calendar year 2020. It will complement CRISIL's existing portfolio of products and expand offerings to new segments across financial services, including commercial banks and asset and wealth managers.

CRISIL Limited is an analytical company, which is a provider of ratings, data and research, analytics and solutions. It operates through three segments: Ratings, research, and advisory.

At 2 pm on Friday, the stock was trading at Rs 1,800, up by 0.63 per cent or Rs 11.30 per share. The 52-week high was recorded at Rs 1,811.95 and the 52-week low was recorded at Rs 1,135.45.