MUMBAI, Dec. 20 (Xinhua) -- India's CRISIL Limited has approved acquisition of data analytics company Greenwich Associates LLC and its subsidiaries, at a consideration of 40 million U.S. dollars, the agency said in a filing to the Bombay Stock Exchange on Friday.
The 100 percent stake 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. The deal will accelerate CRISIL's strategy to be the leading player in the growing market of global benchmarking analytics, the stock exchange filing said.
Founded in 1972, U.S.-based Greenwich Associates is a leading provider of proprietary benchmarking data, analytics and qualitative, actionable insights that help financial services firms worldwide measure and improve business performance.
CRISIL, with majority shareholding from Standard & Poor's, is a global analytical company that provides ratings, research, and risk and policy advisory services.
