CRISIL to acquire Greenwich Associates

Our Bureau Mumbai | Updated on December 21, 2019 Published on December 20, 2019

At $40 m, the deal with the US analytics firm is likely early 2020

CRISIL is set to acquire US-based Greenwich Associates and its six subsidiaries for about $40 million, as it looks to becoming a leading player in the global benchmarking analytics market.

“… the Board of Directors of Crisil Ltd has approved acquisition of 100 per cent of the equity share capital of Greenwich Associates LLC and its subsidiaries, at a consideration of $40 million, subject to closing adjustments. The acquisition will be done through Crisil Ltd's 100 per cent subsidiary, Crisil Irevna US LLC,” CRISIL said in a regulatory filing.

Greenwich, a Stamford Connecticut-based company provides proprietary benchmarking data, analytics and qualitative, actionable insights that helps financial services firms measure and improve business performance. It serves over 300 of the top investment banks, corporate banks, commercial banks, asset managers and key players in the market infrastructure space globally.

Complement portfolio

“The acquisition 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,” it said in statement. The acquisition is expected to be completed by the first quarter of the calendar year 2020, subject to regulatory approvals.

Greenwich's deep expertise in ‘voice of customer’ surveys, proprietary data assets, and capabilities to source and aggregate high-value private performance data will provide a new layer of insights to Crisil's existing offerings under its Coalition division, the company further said.

Ashu Suyash, Managing Director and CEO, CRISIL, said, “With this acquisition, CRISIL will strengthen its position as the foremost global benchmarking analytics provider for financial services, where Coalition is a distinguished provider to corporate and investment banks worldwide.”

It will also expand CRISIL’s global presence, she told BusinessLine, noting that Greenwich Associates has presence in Singapore, Tokyo and the UK.

The two organisations are expected to work as a combined entity from April 1, 2020, if all regulatory approvals are in place, she added.

“Our combined data and analytics will provide clients with high-value actionable insights they demand in today's competitive business environment,” said Steven Busby, CEO, Greenwich.


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Published on December 20, 2019
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