Moody's Corporation (NYSE:MCO) announced today 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.
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 centers in Costa Rica, India and
Sri Lanka, as well as sales offices in major financial centers.
“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,” said 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 $39
million 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.
ABOUT 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. Moody's Corporation
(NYSE:MCO) is the parent company of Moody's Investors Service, which
provides credit ratings and research covering debt instruments and
securities, and Moody's Analytics, which offers leading-edge software,
advisory services and research for credit and economic analysis and
financial risk management. The Corporation, which reported revenue of
$2.7 billion in 2012, employs approximately 7,200 people worldwide and
maintains a presence in 29 countries. Further information is available
at www.moodys.com.
“Safe Harbor” Statement under the Private Securities Litigation
Reform Act of 1995
Certain statements contained in this release are forward-looking
statements and are based on future expectations, plans and prospects for
Moody’s business and operations that involve a number of risks and
uncertainties. Moody’s outlook for 2013 and other forward-looking
statements in this release are made as of October 25, 2013, and the
Company disclaims any duty to supplement, update or revise such
statements on a going-forward basis, whether as a result of subsequent
developments, changed expectations or otherwise. In connection with the
“safe harbor” provisions of the Private Securities Litigation Reform Act
of 1995, the Company is identifying certain factors that could cause
actual results to differ, perhaps materially, from those indicated by
these forward-looking statements. Those factors, risks and uncertainties
include, but are not limited to, the current world-wide credit market
disruptions and economic slowdown, which is affecting and could continue
to affect the volume of debt and other securities issued in domestic
and/or global capital markets; other matters that could affect the
volume of debt and other securities issued in domestic and/or global
capital markets, including credit quality concerns, changes in interest
rates and other volatility in the financial markets; the uncertain
effectiveness and possible collateral consequences of U.S. and foreign
government initiatives to respond to the economic slowdown; concerns in
the marketplace affecting our credibility or otherwise affecting market
perceptions of the integrity or utility of independent agency ratings;
the introduction of competing products or technologies by other
companies; pricing pressure from competitors and/or customers; the
impact of regulation as an NRSRO, the potential for new U.S., state and
local legislation and regulations, including provisions in the
Dodd-Frank Wall Street Reform and Consumer Protection Act and
anticipated regulations resulting from the law; the potential for
increased competition and regulation in the EU and other foreign
jurisdictions; exposure to litigation related to our rating opinions, as
well as any other litigation to which the Company may be subject from
time to time; provisions in the Dodd-Frank Act legislation modifying the
pleading standards, and EU regulations modifying the liability
standards, applicable to credit rating agencies in a manner adverse to
rating agencies; provisions of EU regulations imposing additional
procedural and substantive requirements on the pricing of services; the
possible loss of key employees; failures or malfunctions of our
operations and infrastructure; any vulnerabilities to cyber threats or
other cybersecurity concerns; the outcome of any review by controlling
tax authorities of the Company’s global tax planning initiatives; the
outcome of those legacy tax matters and legal contingencies that relate
to the Company, its predecessors and their affiliated companies for
which Moody’s has assumed portions of the financial responsibility; the
ability of the Company to successfully integrate acquired businesses;
currency and foreign exchange volatility; a decline in the demand for
credit risk management tools by financial institutions; and other risk
factors as discussed in the Company’s annual report on Form 10-K for the
year ended December 31, 2012 and in other filings made by the Company
from time to time with the Securities and Exchange Commission.
Copyright Business Wire 2013