Moody's acquires Amba Investment Services
Moody's has acquired Amba Investment Services, a provider of investment research and quantitative analytics for global financial institutions.
Amba will operate as part of Moody's Analytics majority-owned subsidiary, Copal Partners.
The acquisition will bolster the research and analytical capabilities offered by Moody's Analytics through Copal, creating a leading outsourcing provider for the global financial sector, including nine of the ten largest global investment banks. Moody's acquired a majority stake in Copal in 2011.
Founded in 2003, Amba provides outsourced investment research and analytics to financial institutions, including asset managers, investment banks, broker-dealers, insurance and alternative investment firms. Amba operates service delivery centres in Costa Rica, India and Sri Lanka, as well as sales offices in major financial centres.
"Amba is highly regarded for its offerings to investment research firms and asset managers, and Copal is known for its strong services for corporate finance. Together, their scale, talent and resources offer global financial institutions a broader array of research and analytics," says Mark Almeida, president of Moody's Analytics.
The deal, which is not expected to have a material impact on Moody's earnings per share, was funded from cash on hand, and the terms of the transaction were not disclosed. Amba expects to generate nearly USD39m of revenue in 2013.
Mayer Brown served as legal advisor to Moody's. Amba was advised by Avendus Capital and its legal advisor was Jones Day.
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