Like Pipal Research Corporation

closed 9/22/2010 via PR Newswire

Irevna, acquired Pipal Research Corporation

synopsis: Irevna, a division of Standard & Poor's subsidiary, CRISIL, will be expanding its capabilities through the acquisition of Pipal Research Corporation, a leading analytical outsourcing company. The acquisition further cements Irevna's leadership position as a global provider of high-end research and analytical off-shoring services.
buyer parent: The McGraw-Hill Companies, Inc.
buyer: Irevna
Irevna is a leading high-end research and analytical services provider for investment banks, insurance companies, asset management firms and other financial institutions. "
target: Pipal Research Corporation
Pipal Research is a leading custom research firm delivering the highest quality financial and business research and quantitative analytics to organizations worldwide. Pipal brings value to its clients through high quality research and analysis that helps solve complex business problems.
price ($mm)
$13
rev ($mm)
$8
EBITDA ($mm)
EV / rev
1.6x
EV / EBITDA
closed 3/1/2006 via PR Newswire

Morningstar, Inc., acquired Ibbotson Associates

synopsis: Morningstar, Inc., a leading provider of independent investment research, today announced it has completed its previously announced acquisition of Ibbotson Associates, a leading provider of asset allocation research and services, for approximately $83 million in cash, subject to adjustments for working capital and other items.
buyer: Morningstar, Inc. (MORN:$1,179.00)
Morningstar provides data on more than 300,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 4 million equities, indexes, futures, options, and commodities, in addition to foreign exchange and Treasury markets. "
target: Ibbotson Associates
Ibbotson Associates was founded by Professor Roger Ibbotson in 1977. The company's business lines include investment advice; investment consulting and research; planning and analysis software; educational and marketing services; and a widely used line of NASD-reviewed presentation materials.
price ($mm)
$83
rev ($mm)
$42
EBITDA ($mm)
$3
EV / rev
2.0x
EV / EBITDA
24.4x
closed 8/6/2019 via BusinessWire

Center for Financial Research and Analysis, acquired First Bridge Data LLC

synopsis: CFRA, one of the world’s largest providers of independent research, announced that it has acquired First Bridge Data LLC, a company that provides institutional quality data and analytics on Exchange Traded Funds (ETFs) that saves time on research and generates insight.
buyer: Center for Financial Research and Analysis
CFRA (Center for Financial Research and Analysis) is the world’s largest provider of institutional-grade independent equity research. Through fundamental equity and fund research, CFRA empowers investment professionals, advisors and risk managers with actionable ideas and proven results. "
target: First Bridge Data LLC
First Bridge provides institutional quality data & analytics on Exchange Traded Funds (ETFs) that saves time on research and generates insight.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/14/2015 via BusinessWire

Intercontinental Exchange, Inc., acquired Interactive Data Corporation

synopsis: Intercontinental Exchange, the leading global network of exchanges and clearing houses, announced it has completed its acquisition of Interactive Data Corporation, a leading provider of financial market data, analytics and related trading solutions from Silver Lake and Warburg Pincus, a leading global private equity firm.
buyer: Intercontinental Exchange, Inc. (ICE:$5,202.00)
Intercontinental Exchange (NYSE:ICE) operates the leading network of regulated exchanges and clearing houses. ICE’s futures exchanges and clearing houses serve global commodity and financial markets, providing risk management and capital efficiency. "
target parent: Warburg Pincus
target: Interactive Data Corporation
Interactive Data Corporation (“IDC”) is a trusted leader in financial information. IDC’s offerings support clients around the world with mission-critical functions, including portfolio valuation, regulatory compliance, risk management, electronic trading and wealth management.
price ($mm)[EV]
$5,265 [$7,450]
rev ($mm)
$940
EBITDA ($mm)
$332
EV / rev
7.9x
EV / EBITDA
22.5x
announced 1/5/2015 via GlobeNewswire

NASDAQ OMX, will acquire Dorsey Wright & Associates, Inc.

synopsis: Nasdaq announced that it will acquire Dorsey, Wright & Associates, LLC, a market leader in data analytics, passive indexing and smart beta strategies. DWA will add to Nasdaq's robust index portfolio, bringing model-based strategies and analysis to support the financial advisor community.
buyer: NASDAQ OMX (NasdaqGS:NDAQ:$4,262.00)
Nasdaq is a leading provider of trading, exchange technology, information and public company services. Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating global capital markets. "
target parent: Falfurrias Capital
target: Dorsey Wright & Associates, Inc.
Dorsey, Wright & Associates (DWA) is an independent and privately owned registered investment advisory firm. Since its founding in 1987 by Tom Dorsey and Watson Wright, Dorsey Wright has been a leading advisor to Wall Street and investment managers worldwide.
price ($mm)
$225
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 11/3/2014 via BusinessWire

Evercore Partners Inc., acquired ISI Group, Inc.

synopsis: Evercore announced that it has acquired the operating businesses of ISI International Strategy & Investment (“ISI”). ISI is a leading independent research-driven equity sales and agency trading firm. ISI is a full service broker-dealer offering macro and fundamental research, sales and trading.
buyer: Evercore Partners Inc. (EVR:$1,004.73)
Evercore Partners is a leading independent investment banking advisory firm. Evercore’s Investment Banking business advises its clients on mergers, acquisitions, divestitures, restructurings, financings, public offerings, private placements and other strategic transactions. "
target: ISI Group, Inc.
ISI is a leading independent research-driven equity sales and agency trading firm. ISI strives to be the Street’s best investment research resource for their clients' money management performance. ISI is a full service broker-dealer offering macro and fundamental research, sales and trading.
price ($mm)
$132
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 12/11/2013 via BusinessWire

Copal Partners, will acquire Amba Research

synopsis: Moody's Corporation announced that it 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.
buyer parent: Moody's Corporation
buyer: Copal Partners
Copal Partners' companies are among the world's leading providers of outsourced research and analytical services to institutional customers. They provide a range of services to leading institutional investors, investment banks, private equity firms, hedge funds and corporations globally. "
target: Amba Research
Amba Research provides investment research and analytics support services to the global capital markets industry. Over 70 companies, including 6 of the top 15 global asset managers and 6 of the top 15 global investment banks, use Amba to differentiate and outperform.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 11/16/2011 via PE Hub

Falfurrias Capital, acquired Dorsey Wright & Associates, Inc.

synopsis: Falfurrias Capital Partners, a Charlotte-based private equity firm, announced it has invested as a strategic partner in Dorsey Wright & Associates, a Richmond, Va.-based provider of technical investment research and money management products.
buyer: Falfurrias Capital
Falfurrias Capital Partners is a Charlotte-based private equity investment firm that acquires or invests in lower, middle-market businesses. The firm is focused on making private equity investments in a diverse portfolio of companies operating in the eastern United States. "
target: Dorsey Wright & Associates, Inc.
Dorsey Wright & Associates (DWA) provides technical research services to the financial services industry and individuals. DWA strives to supply the resources, technology and support necessary for a stock broker, money manager or individual investor to become a true craftsman in investing.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
cancelled 12/23/2011 via PR Newswire

CVC Capital Partners, cancelled an acquisition of ConvergEx

synopsis: ConvergEx Group and CVC Capital Partners have mutually agreed to terminate their pending transaction. The merger provided for ConvergEx to be acquired by funds advised by CVC. ConvergEx is a leading technology company providing mission-critical proprietary software products and technology-enabled services.
buyer: CVC Capital Partners
CVC Capital Partners is one of the world's leading private equity and investment advisory firms, with a network of 20 offices and some 250 employees throughout Europe, Asia and the United States. "
target parent: The Bank of New York Mellon Corporation
target: ConvergEx
ConvergEx Group is a leading technology company providing mission-critical proprietary software products and technology-enabled services to asset managers and financial intermediaries globally.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/20/2011 via Company Press Release

Euromoney Institutional Investor PLC, acquired Ned Davis Research, Inc.

synopsis: Euromoney Institutional Investor PLC, an international publishing, events and information group based in London, announced it has acquired Ned Davis Research Group (NDRG), a US-based provider of financial research to institutional investors. NDRG delivers award-winning solutions to the world's leading investment management companies.
buyer parent: Daily Mail and General Trust plc
buyer: Euromoney Institutional Investor PLC (LSE:ERM:$328.89)
Euromoney Institutional Investor is the international publishing, events and electronic information group, delivering business information to the finance, law, energy and transport sectors. Its online store offers a full range of magazines, journals, newsletters, text books, and more. "
target: Ned Davis Research, Inc.
Ned Davis Research Group is a leading independent research firm with over 1,100 institutional clients in over three dozen countries. With a range of products and services utilizing a 360 degree methodology, they deliver award-winning solutions to the world's leading investment management companies.
price ($mm)
$112*
rev ($mm)
$41
EBITDA ($mm)
EV / rev
4.2x
EV / EBITDA
closed 5/12/2011 via Market Wire

Pacific Crest, acquired Pacific Epoch

synopsis: Pacific Crest Securities has acquired certain assets of Pacific Epoch, an investment research company specializing in China's technology sectors and companies. Its on-the-ground surveys, proprietary data collection and analysis of the technology market provide a unique and predictive view of trends impacting companies and sectors in the region.
buyer: Pacific Crest
Pacific Crest Securities, the leading technology investment bank, provides equity research, institutional sales and trading, third party research, M&A advisory, and public and private financings. "
target: Pacific Epoch
Pacific Epoch is a trusted source of China investment research for institutional, private equity, and corporate clients. The company provides a combination of proprietary data collection and on-the-ground surveys and expert analysis of government policy to partners.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/12/2010 via PR Newswire

Morningstar, Inc., acquired Old Broad Street Research

synopsis: Morningstar UK Ltd., a subsidiary of Morningstar, Inc., a leading provider of independent investment research, has acquired Old Broad Street Research Ltd. (OBSR), a premier provider of fund research, ratings, and investment consulting services in the United Kingdom, for 11.95 million pounds sterling, or approximately U.S. $18.3 million.
buyer: Morningstar, Inc. (MORN:$1,179.00)
Morningstar provides data on more than 300,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 4 million equities, indexes, futures, options, and commodities, in addition to foreign exchange and Treasury markets. "
target: Old Broad Street Research
Old Broad Street Research's ("OBSR") team of investment research analysts rates and recommends approximately 500 UK-domiciled and cross-border funds.
price ($mm)
$19
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/29/2008 via BusinessWire

Barron’s, acquired The Winner’s Circle Organization

synopsis: The Winner’s Circle® Organization, was sold to Barron's, published by Dow Jones & Company. The Winner’s Circle Organization, based in Boca Raton, Florida, is a consulting firm which provides analysis of financial advisory practices and rankings of advisors based on assets under management, revenue generation and practice quality.
buyer parent: News Corporation
buyer: Barron’s
For 85 years, Barron's has been the source that America's business and financial leaders turn to every week for authoritative market analyses and insights on companies, industries, sectors, the economy and financial markets in the U.S. and around the world. "
target: The Winner’s Circle Organization
The Winner’s Circle Organization, based in Boca Raton, Florida, is a consulting firm which provides analysis of financial advisory practices and rankings of advisors based on assets under management, revenue generation and practice quality.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 3/27/2019 via BNC Analysis

Bonhill Group plc, will acquire Last Word Media

synopsis: Bonhill, a leading B2B media company in the UK, will acquire Last Word Media, a financial media solutions provider headquartered in London. Last Word has been the final say for first-to-market news, analysis and comment across the global wealth management market. They deliver content across print, digital, video, research, data and events.
buyer: Bonhill Group plc (AIM:BONH:$13.88)
Bonhill Group plc is a leading B2B media company in the UK. Bonhill provides Business Information, Live Events and Data & Insight propositions to international Technology, Financial Services and Diversity Business Communities. "
target: Last Word Media
Last Word is an independent financial media solutions provider headquartered in London. Last Word has been the final say for first-to-market news, analysis and comment across the global wealth management market. They deliver content across print, digital, video, research, data and events.
price ($mm)
$11
rev ($mm)
$13
EBITDA ($mm)
$1
EV / rev
2.0x
EV / EBITDA
18.3x
closed 9/21/2010 via PR Newswire

Capital IQ, acquired TheMarkets.com

synopsis: Capital IQ, a leading provider of data and analytics for global financial professionals, has acquired the research and estimates business of TheMarkets.com. TheMarkets.com is a premier provider of third party equity and fixed income research, earnings models, and estimates to more than 2,400 institutional investment management firms worldwide.
buyer parent: The McGraw-Hill Companies, Inc.
buyer: Capital IQ
Capital IQ, a Standard & Poor's business, delivers comprehensive fundamental and quantitative research and analysis solutions to over 4,200 investment management firms, investment banks, private equity funds, advisory firms, corporations, and universities worldwide. "
target: TheMarkets.com
TheMarkets.com is the proven standard for investment research and workflow technologies to institutional investment firms worldwide. TheMarkets.com enables investors to streamline access to diverse providers of investment research through efficient workflow technologies.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/23/2019 via PR Newswire

Seeking Alpha, acquired CressCap

synopsis: Seeking Alpha, the world's largest platform for equity analysis, announced the acquisition of CressCap, a next generation analytics platform for investment professionals. CressCap is a pioneer in the fusion of statistical computing systems and autonomous research analytics.
buyer: Seeking Alpha
Seeking Alpha is the leading provider of stock market opinion and analysis from blogs, money managers and investment newsletters, and a provider of its own high-value, complementary financial content. "
target: CressCap
CressCap Investment Research has developed the next generation analytics platform for investment professionals. They are a pioneer in the fusion of statistical computing systems and autonomous research analytics.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 10/31/2017 via Company Press Release

Baird, will acquire Strategas Research Partners

synopsis: Baird signed a definitive agreement to acquire Strategas, an independent private partnership focused on macro research. Based in New York, Strategas provides comprehensive macro sector insights including research in the areas of Investment Strategy, Economics, Government Policy, Quantitative, Technical Analysis, Fixed Income and Industry Surveys.
buyer: Baird
Baird is an employee-owned, international wealth management, capital markets, private equity and asset management firm with offices in the US, Europe and Asia. Established in 1919, Baird has more than 3,400 associates serving the needs of individual, corporate, institutional and municipal clients. "
target: Strategas Research Partners
Strategas is a global institutional brokerage and advisory firm that provides macro research, capital market and corporate advisory services, and financial products to institutional investors and corporate executives in more than twenty countries around the world.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 10/3/2016 via PR Newswire

Center for Financial Research and Analysis, purchased Equity Research Business from S&P Global Market Intelligence

synopsis: S&P Global announced that it has successfully completed its sale of S&P Global Market Intelligence's Equity and Fund Research (Equity Research) business to CFRA, a leading independent provider of forensic accounting research, analytics and advisory services.
buyer: Center for Financial Research and Analysis
CFRA (Center for Financial Research and Analysis) is the world’s largest provider of institutional-grade independent equity research. Through fundamental equity and fund research, CFRA empowers investment professionals, advisors and risk managers with actionable ideas and proven results. "
seller parent: S&P Global
seller: S&P Global Market Intelligence
S&P Global Market Intelligence's Equity Resarch provides access to financial analysis for wealth advisors and institutional investors. S&P Global Market Intelligence collects and analyzes vast volumes of content, turning into actionable intelligence on the global financial markets and industries.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/12/2016 via PR Newswire

Hedgeye Risk Management, acquired Potomac Research Group

synopsis: Hedgeye Risk Management announced that it has acquired Potomac Research Group (PRG), a Washington, D.C.-based, independent research firm which provides predictive and actionable Washington policy analysis to institutional investors.
buyer: Hedgeye Risk Management
Hedgeye Risk Management is an independent investment research and media firm. Focused exclusively on generating and delivering actionable investment ideas in a proven buy-side process, the firm combines quantitative, bottom-up and macro analysis with an emphasis on timing. "
target: Potomac Research Group
Potomac Research Group ("PRG") is an independent research firm formed to provide Washington policy and market technical analysis to institutional investors. PRG’s analysis of federal legislative activities and regulatory policies helps investors determine Washington’s impact on industry sectors.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/9/2015 via BNC Analysis

Lyceum Capital, acquired Style Research

synopsis: Robert Schwob, a popular figure in the asset management world, has sold majority control of Style Research, his asset management data provider, to mid-market private equity firm Lyceum Capital. Style Research is the leading independent provider of global investment research and portfolio analysis applications.
buyer: Lyceum Capital
Lyceum Capital partners with entrepreneurial management teams and unlocks growth potential by providing capital, operations and development support and help with targeted acquisitions. Lyceum typically invests between £5m and £50m of equity in fast-growing, UK-headquartered, mid-sized businesses. "
target: Style Research
Style Research is the leading independent provider of global investment research and portfolio analysis applications. The services are delivered on a SaaS-based platform that supports a range of devices.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/22/2010 via PR Newswire

Irevna, acquired Pipal Research Corporation

synopsis: Irevna, a division of Standard & Poor's subsidiary, CRISIL, will be expanding its capabilities through the acquisition of Pipal Research Corporation, a leading analytical outsourcing company. The acquisition further cements Irevna's leadership position as a global provider of high-end research and analytical off-shoring services.
buyer parent: The McGraw-Hill Companies, Inc.
buyer: Irevna
Irevna is a leading high-end research and analytical services provider for investment banks, insurance companies, asset management firms and other financial institutions. "
target: Pipal Research Corporation
Pipal Research is a leading custom research firm delivering the highest quality financial and business research and quantitative analytics to organizations worldwide. Pipal brings value to its clients through high quality research and analysis that helps solve complex business problems.
price ($mm)
$13
rev ($mm)
$8
EBITDA ($mm)
EV / rev
1.6x
EV / EBITDA
closed 9/22/2010 via PR Newswire

Irevna, acquired Pipal Research Corporation

synopsis: Irevna, a division of Standard & Poor's subsidiary, CRISIL, will be expanding its capabilities through the acquisition of Pipal Research Corporation, a leading analytical outsourcing company. The acquisition further cements Irevna's leadership position as a global provider of high-end research and analytical off-shoring services.
buyer parent: The McGraw-Hill Companies, Inc.
buyer: Irevna
Irevna is a leading high-end research and analytical services provider for investment banks, insurance companies, asset management firms and other financial institutions. "
target: Pipal Research Corporation
Pipal Research is a leading custom research firm delivering the highest quality financial and business research and quantitative analytics to organizations worldwide. Pipal brings value to its clients through high quality research and analysis that helps solve complex business problems.
price ($mm)
$13
rev ($mm)
$8
EBITDA ($mm)
EV / rev
1.6x
EV / EBITDA
closed 9/9/2016 via BusinessWire

CRIF, acquired China Credit Information Service, Ltd.

synopsis: CRIF, the global credit information company with head office in Bologna, Italy, has announced the acquisition of China Credit Information Service, the largest and leading credit information agency in Taiwan, from the previous shareholders, to carry forward its business growth and expansion path in the Asian market.
buyer: CRIF
CRIF is a global company specializing in credit bureau and business information systems, outsourcing and processing services, and credit solutions. CRIF is currently the market leader in continental Europe in the field of banking credit information. "
target: China Credit Information Service, Ltd.
China Credit Information Service, founded in 1961, is Taiwan’s largest and leading credit information agency, operating an established island-wide network which offers a full spectrum of information and consulting services.
price ($mm)
rev ($mm)
EBITDA ($mm)
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EV / EBITDA
closed 11/30/2015 via BNC Analysis

Bisnode AB, purchased Bonline, Bonitetna Hisa, and Rating from Dun & Bradstreet, Inc.

synopsis: Bisnode, a business intelligence company, said it has become the owner of three ratings agencies - Croatia's Bonline, Slovenia's Bonitetna Hisa and Serbia's Rating, which previously operated under peer Dun & Bradstreet (D&B) in Southeast Europe.
buyer parent: Ratos AB
buyer: Bisnode AB
Bisnode enables people to make smart decisions. They turn data into insights that facilitate decision-making in both strategic issues and daily operations for companies and organizations throughout Europe. "
seller: Dun & Bradstreet, Inc. (DNB:$1,813.10)
Bonline (Croatia), Bonitetna Hisa (Slovenia), and Rating (Serbia) are Southeastern European ratings agencies of Dun & Bradstreet, the world's leading source of commercial data, analytics and insight on businesses.
price ($mm)
rev ($mm)
$1
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
announced 6/30/2016 via Company Press Release

Scope Ratings, will acquire FERI EuroRating Services AG

synopsis: Scope Corporation AG, Europe’s leading provider of independent ratings, research and risk analysis, will acquire FERI EuroRating Services AG, one of the leading European rating agencies specialized in investment market and product ratings.
buyer: Scope Ratings
Scope Ratings specializes in the ratings of companies, financial institutions, structured finance and alternative investment funds. Scope is an ESMA-accredited rating agency (CRA) operating in the European Union with ECAI status. "
target: FERI EuroRating Services AG
FERI EuroRating Services AG is one of the leading European rating agencies specialized in investment market and product ratings. Its mission is to create market transparency and to offer investment ratings that provide decision-making guidance to retail and institutional investors.
price ($mm)
rev ($mm)
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closed 5/3/2010 via PR Newswire

Morningstar, Inc., acquired Realpoint, LLC

synopsis: Morningstar, Inc., a leading provider of independent investment research, has completed its previously announced acquisition of Realpoint, LLC, a Nationally Recognized Statistical Ratings Organization (NRSRO) that specializes in structured finance.
buyer: Morningstar, Inc. (MORN:$1,179.00)
Morningstar provides data on more than 300,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 4 million equities, indexes, futures, options, and commodities, in addition to foreign exchange and Treasury markets. "
target: Realpoint, LLC
Realpoint is a nationally recognized credit-rating agency that has earned a reputation for innovation and excellence in the structured finance market. Their goal is to increase market transparency and provide investors with the highest quality ratings and analysis.
price ($mm)
$48
rev ($mm)
$12
EBITDA ($mm)
EV / rev
4.0x
EV / EBITDA
closed 8/2/2007 via

RiskMetrics Group, Inc., acquired Center for Financial Research and Analysis

synopsis: RiskMetrics Group, the world's leading provider of financial risk management and corporate governance solutions, announced today that it has entered into a definitive agreement to acquire CFRA (Center for Financial Research & Analysis).
buyer parent: Spectrum Equity Investors
buyer: RiskMetrics Group, Inc.
RiskMetrics provides expertise to the financial community through a broad range of research, analytics, data and other products and services. Formerly a division of JP Morgan, RiskMetrics Group became an independent company in 1998. "
target: Center for Financial Research and Analysis
The Center for Financial Research & Analysis is a leading global independent research and educational organization, committed to providing quality of earnings research and training to the institutional investment, insurance, corporate, legal, and regulatory communities.
price ($mm)
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announced 3/12/2015 via BusinessWire

Moody's Corporation, will acquire Equilibrium (Peru)

synopsis: Moody’s Corporation, an essential component of the global capital markets, providing credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets, announced that it has agreed to acquire Equilibrium, a leading provider of credit rating and research services in Peru and Latin America.
buyer: Moody's Corporation (MCO:$4,829.00)
Moody's Corporation is an essential component of the global capital markets, providing credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets. "
target: Equilibrium (Peru)
Equilibrium is a leading provider of credit rating and research services in Peru and other countries in Latin America. Based in Peru, Equilibrium has operated since 1996.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 12/24/2014 via Company Press Release

The Hearst Corporation, will acquire Fitch Ratings Ltd.

synopsis: Hearst Corporation announced that it will purchase from Fimalac S.A. an additional 30 percent interest in global ratings agency Fitch Group, bringing Hearst's equity interest to 80 percent. Fimalac will retain a 20 percent equity interest in Fitch Group.
buyer: The Hearst Corporation
Hearst Corporation is one of the nation's largest diversified media and information companies. Its major interests include ownership of 15 daily and 36 weekly newspapers, including the Houston Chronicle, San Francisco Chronicle, San Antonio Express-News and Albany Times Union. "
target parent: Fimalac SA
target: Fitch Ratings Ltd. (:$693.00)
Dual-headquartered in New York and London with over 50 offices worldwide, Fitch Ratings is a global rating agency dedicated to providing value beyond the rating through independent and prospective credit opinions, research and data.
price ($mm)
$1,965*
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 11/1/2010 via Market Wire

Thomson Reuters, acquired Highline Financial, LLC

synopsis: Thomson Reuters announced it acquired Highline Financial, a financial information and analytics provider focused on the US banking sector. The acquisition supports Thomson Reuters strategy of providing timely, accurate and high quality information by expanding its offering to include differentiated financial content and analytics.
buyer: Thomson Reuters (TRI:$5,906.00)
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. They combine industry expertise with innovative technology to deliver critical information to leading decision makers. "
target parent: Spire Capital Partners, L.P.
target: Highline Financial, LLC
Highline Financial is the preferred source of banking information and analytics with decades of experience serving the financial industry.
price ($mm)
rev ($mm)
EBITDA ($mm)
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EV / EBITDA
closed 6/1/2010 via BusinessWire

RiskMetrics Group, Inc. merged with MSCI Inc.,

synopsis: MSCI Inc., announced that it has completed its acquisition of RiskMetrics Group, Inc., a leading provider of risk management and corporate governance products and services to the global financial community.
buyer: MSCI Inc. (MSCI:$1,476.56)
MSCI Inc. is a leading provider of investment decision support tools to investment institutions worldwide. MSCI Inc. products include indices and portfolio risk and performance analytics for use in managing equity, fixed income and multi-asset class portfolios. "
target: RiskMetrics Group, Inc.
RiskMetrics provides expertise to the financial community through a broad range of research, analytics, data and other products and services. Formerly a division of JP Morgan, RiskMetrics Group became an independent company in 1998.
price ($mm)[EV]
$1,380 [$1,456]
rev ($mm)
$303
EBITDA ($mm)
$102
EV / rev
5.3x
EV / EBITDA
15.9x
closed 7/26/2011 via PE Hub

New Mountain Capital, LLC, acquired SNL Financial LC

synopsis: SNL Financial LC and New Mountain Capital, LLC announced New Mountain’s acquisition of a majority equity stake in SNL. SNL is a leading provider of sector-focused information services on the banking, financial services, insurance, real estate, energy, and media & communications industries.
buyer: New Mountain Capital, LLC
New Mountain Capital is a New York-based private equity firm investing for long-term capital appreciation through direct investments in growth equity transactions, leveraged acquisitions, and management buyouts. "
target: SNL Financial LC
SNL Financial is a leading provider of financial information on more than 4,000 public companies and 50,000 private companies in business sectors critical to the global economy: banking, financial services, insurance, real estate, energy, and media & communications.
price ($mm)
rev ($mm)
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EV / EBITDA
closed 11/4/2008 via Company Press Release

The NASDAQ OMX Group, Inc., acquired Bloom Partners

synopsis: The NASDAQ OMX Group, Inc. announced that it has acquired Chicago-based Bloom Partners. This combination will enable NASDAQ OMX and the newly formed Pinpoint Market Intelligence - Bloom Partners to offer an enhanced suite of intelligence services to its approximately 3,900 listed companies as well as NYSE-listed companies.
buyer: The NASDAQ OMX Group, Inc. (NasdaqGS:NDAQ:$4,262.00)
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, and with over 3,900 companies, it is number one in worldwide listings among major markets. "
target: Bloom Partners
Chicago-based Bloom Partners is a leading market intelligence firm.
price ($mm)
rev ($mm)
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closed 6/1/2005 via BusinessWire

Financial Media Holdings Group, Inc., acquired Raisch Financial Information Services

synopsis: Compliance Week, a corporate governance publication that reaches over 40,000 legal and financial executives at U.S. public companies, today announced that it has acquired Raisch Financial Information Services of Newton, Mass.
buyer: Financial Media Holdings Group, Inc.
Financial Media Holdings Group, Inc. (FMHG) is a Boston-based publisher of compliance-related media titles serving the intersection of finance and accounting, corporate securities law, governance, ethics, corporate social responsibility, and risk. "
target: Raisch Financial Information Services
Raisch Financial Information Services is a data analytics and research firm that specializes in extracting and interpreting complicated financial information from regulatory filings. A data provider for companies, publishers and auditors, RFIS is located in Newton, Mass.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 5/21/2013 via PR Web

C-leveled, acquired FINTEL LLC

synopsis: C-leveled, a leading provider of entrepreneur services and subscription-based software tools that help businesses to launch, develop and grow their business, announced that it acquired FINTEL LLC, a privately held company located in Madison, Wisconsin that offers comprehensive data analytics, business intelligence and industry benchmarking tools.
buyer: C-leveled
C-leveled, founded in 2009 and headquartered in Pittsburgh, PA, is a leading provider of entrepreneur services and subscription-based software tools that help businesses to launch, develop and grow their business. "
target: FINTEL LLC
FINTEL has developed a suite of Web-based tools that combine powerful techniques of financial analysis developed by Dr. Robert W. Pricer, with industry benchmarking powered by the largest and most reliable database of financial information of privately held companies from North America.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/10/2015 via BNC Analysis

Infonet Srl merged with Ribes S.p.A.,

synopsis: Ribes S.p.A., a company that provides business information to Italian banks, has merged with Infonet Srl, a company that provides information on the reliability of its economic counterparts in order to optimize protection from the credit risk of banks, companies and professionals.
buyer parent: Tecnoinvestimenti S.p.A
buyer: Ribes S.p.A.
Ribes S.p.A. provides business information to Italian banks. The company was founded in 1995 and is based in Milan, Italy. They assess the value of real estate collateral during the granting of a loan. "
target: Infonet Srl
Infonet is an innovative partner for over 15 years in the service sector of Business & Credit Information and provides information on the reliability of its economic counterparts in order to optimize protection from the credit risk of banks, companies and professionals.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/17/2006 via BusinessWire

GMT Communications Partners, acquired Suomen Asiakastieto Oy

synopsis: GMT Communications Partners (GMT), the leading private equity investor focused on the European communications sector, today announced that it has acquired 91% of Suomen Asiakastieto Oy (Asiakastieto), the leading business and credit information company in Finland.
buyer: GMT Communications Partners
Founded: 1993, Total Capital: $450 Million. GMT is an independent firm focused exclusively on the Communications sector in Europe. "
target: Suomen Asiakastieto Oy (HLSE:ATG1V:$52.04)
Based in Helsinki, Asiakastieto was founded by a group of Finnish banks, wholesalers and retail chains in 1961 to provide information in support of credit and purchase decisions.
price ($mm)
rev ($mm)
$25
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 6/27/2006 via PR Newswire

Xtech LLC, acquired TC Index

synopsis: xTech, an information services provider that enables online commerce and direct marketing companies to profitably grow customer relationships while preventing fraud and identity theft, announced that it has completed an acquisition of The Credit Index of Mount Arlington, NJ.
buyer: Xtech LLC
xTech, LLC. is an information services company that enables online commerce and direct marketing companies to profitably grow customer relationships while preventing fraud and identity theft. "
target: TC Index
The Credit Index is a leading provider of consumer information decisioning solutions to the direct marketing industry. Since 1964, The Credit Index has been helping businesses target responsive purchasers and control credit risk.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/25/2018 via PR Web

Billtrust, acquired Credit2B

synopsis: Billtrust, the leader in B2B payment cycle management, announced the acquisition of Credit2B, a pioneer in trade credit risk. Credit2B leverages crowdsourcing and other technologies to provide up-to-date payment behaviors and financial risk information on common customers, easing the credit decisioning process for suppliers.
buyer: Billtrust
Billtrust accelerates cash flow by automating invoice delivery, invoice payment and cash application. Companies can improve operational efficiency throughout the invoice-to- cash process with electronic invoicing and payments in a flexible, cloud-based solution. "
target: Credit2B
Credit2B is a pioneer in trade credit risk. Credit2B leverages crowdsourcing and other technologies to provide up-to-date payment behaviors and financial risk information on common customers, easing the credit decisioning process for suppliers.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/19/2018 via BNC Analysis

TransUnion LLC, acquired Callcredit Information Group

synopsis: TransUnion, a risk and information solutions provider, announced that it has acquired Callcredit Information Group, Ltd., the second largest consumer credit bureau in the U.K.. Callcredit is an information solutions company that provides data, analytics and technology solutions to help businesses and consumers make informed decisions.
buyer: TransUnion LLC (TRU:$2,399.10)
Transunion helps uncover unique stories, trends and insights behind each data point, using historical information as well as alternative data sources. This allows a variety of markets and businesses to better manage risk and consumers to better manage their credit, personal information and identity."
target parent: GTCR, LLC
target: Callcredit Information Group
Callcredit Information Group, Ltd., is in the business of empowering information. They provide the data, analytics, and software that enable businesses to build more valuable customer relationships. They specialize in managing consumer data for businesses across every sector.
price ($mm)
$1,426
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 1/17/2017 via Financial Times

Carlyle Group, will acquire Global Credit Ratings Co.

synopsis: US buyout group Carlyle has agreed to buy Africa’s largest rating agency by customers in a bet on future growth in the continent’s capital markets. The acquisition of Global Credit Ratings (GCR) shows how private equity funds are seeking to capitalise on the need for banks and insurers to understand the credit risk of local counterparties.
buyer: Carlyle Group (CG:$1,544.30)
The Carlyle Group is a global alternative asset manager with $169 billion of assets under management across 125 funds and 177 fund of funds vehicles as of September 30, 2016. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. "
target: Global Credit Ratings Co.
Global Credit Ratings (GCR) is a leading emerging market focused ratings agency that rates the full spectrum of security classes, including Corporates, Banks, Insurance companies, Local Authorities, Asset Management & Funds, and Structured Finance transactions.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
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closed 2/16/2014 via BusinessWire

GTCR, LLC, acquired Callcredit Information Group

synopsis: GTCR, a leading private equity firm, announced that it has acquired Callcredit Information Group Limited in partnership with its management team. Callcredit is a leading provider of consumer credit data solutions and software and analytics services in the United Kingdom.
buyer: GTCR, LLC
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. "
target parent: Vitruvian Partners LLP
target: Callcredit Information Group
Callcredit Information Group is expert in managing consumer data for businesses across every sector. The Group is focused on developing innovative products and services to help businesses make smarter, more informed decisions throughout the customer lifecycle.
price ($mm)
$586
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA

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Matching Companies
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Morningstar, Inc.
Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutions.
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$246.20
EBIT ($mm)
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Net Income ($mm)
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Ticker: MSCI
 
 
 
 
 
 
 
 
MSCI Inc.
MSCI Inc.
MSCI is an independent provider of research-driven insights and tools for institutional investors. They have deep expertise in the areas of risk and performance measurement that is based on more than 40 years of academic research, real-world experience and collaboration with their clients.
year
2019
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$1,476.56
EBITDA ($mm)
$767.41
EBIT ($mm)
$709.17
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Ticker: MCO
 
 
 
 
 
 
 
 
Moody's Corporation
Moody's Corporation
Moody's is an essential component of the global capital markets, providing credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets.
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EBITDA ($mm)
$2,271.00
EBIT ($mm)
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$1,422.00
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Ticker: 601519.SS
 
 
 
 
 
 
 
 
Shanghai Great Wisdom Co., Ltd.
Shanghai Great Wisdom Co., Ltd.
Great Wisdom provides services in the areas of financial database, real-time quotes transmission, real-time quotes reveal and investment analysis software, financial education system, information dissemination, Web and other areas of financial services platform.
year
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rev ($mm)
$92.77
EBITDA ($mm)
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EBIT ($mm)
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Ticker: INIX.PK
 
 
 
 
 
 
 
 
iFinix Corporation
iFinix Corporation
Ifinix is a leading global provider of financial and business information to professionals and active individual investors. Building on a 20-year legacy of delivering time-sensitive financial information, Ifinix provides streaming, real-time market data, news and analytics.
year
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$0.54
EBITDA ($mm)
($0.26)
EBIT ($mm)
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Net Income ($mm)
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Ticker: LSE:EXPN
 
 
 
 
 
 
 
 
Experian plc
Experian plc
Experian is the leading global information services company, providing data and analytical tools to clients around the world. The Group helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making.
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$4,861.00
EBITDA ($mm)
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Net Income ($mm)
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Ticker: TRU
 
 
 
 
 
 
 
 
TransUnion LLC
TransUnion LLC
As a global leader in information and risk management, TransUnion creates advantages for millions of people around the world by gathering, analyzing and delivering information. TransUnion delivers high quality data and integrates advanced analytics and enhanced decision-making capabilities.
year
2019
rev ($mm)
$2,399.10
EBITDA ($mm)
$844.40
EBIT ($mm)
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Net Income ($mm)
$274.40
Employees
7100
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Ticker: BIT:TECN
 
 
 
 
 
 
 
 
Tecnoinvestimenti S.p.A
Tecnoinvestimenti S.p.A., through its subsidiaries, provides IT and credit information solutions in Italy. The company offers IT solutions and services for the dematerialization and digitalization of document processes through document management, electronic storage, and electronic invoicing.
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rev ($mm)
$280.78
EBITDA ($mm)
$71.00
EBIT ($mm)
$56.71
Net Income ($mm)
$34.22
Employees
1294
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Ticker: MCO
 
 
 
 
 
 
 
 
Moody's Corporation
Moody's Corporation
Moody's is an essential component of the global capital markets, providing credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets.
year
2019
rev ($mm)
$4,829.00
EBITDA ($mm)
$2,271.00
EBIT ($mm)
$2,071.00
Net Income ($mm)
$1,422.00
Employees
11081
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Ticker: BIT:CERV
 
 
 
 
 
 
 
 
Cerved Group SpA
Cerved Group SpA
Cerved is a leading Information Provider in Italy and one of the major rating agencies in Europe. Cerved is the Italian leader in credit risk analysis and the top independent market player for credit management.
year
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rev ($mm)
$477.91
EBITDA ($mm)
$201.85
EBIT ($mm)
$143.63
Net Income ($mm)
$69.91
Employees
1992
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Ticker: NYSE:EFX
 
 
 
 
 
 
 
 
Equifax, Inc.
Equifax, Inc.
Equifax is a global leader in consumer, commercial and workforce information solutions that provide businesses of all sizes and consumers with insight and information they can trust. Equifax organizes and assimilates data on more than 600 million consumers and 81 million businesses worldwide.
year
2018
rev ($mm)
$3,415.20
EBITDA ($mm)
$850.70
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$541.20
Net Income ($mm)
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Employees
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Ticker: BSE:532835
 
 
 
 
 
 
 
 
ICRA Limited
ICRA Limited operates as a credit rating agency in India. The company provides consulting services, including strategy, risk management, regulatory economics, transaction advisory, and process re-engineering services to banks and more.
year
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rev ($mm)
$50.82
EBITDA ($mm)
$14.92
EBIT ($mm)
$13.75
Net Income ($mm)
$11.40
Employees
62
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