Thursday, 12 December 2013 01:03
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Acquisition bolsters Copal Partners to create a leading outsourcer
Boost for Sri Lanka’s profile being home for fledging start up 10 years ago
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.
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.
In October Amba Research, the largest specialist banking and financial services knowledge outsourcing firm, commemorated its tenth anniversary.
Amba Research was founded in 2003 by four former Wall Street senior directors of research from Deutsche Bank, Goldman Sachs, and J.P. Morgan. Commencing operations in a small office with ten employees in Sri Lanka, Amba today has over 900 employees across its world-class offices in Bangalore, Colombo, San Jose, London, New York, and Singapore.
“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.
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 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.
