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Crisil to buy Stamford-based Greenwich Associates, deal likely early 2020

Greenwich is a leading provider of proprietary benchmarking data, analytics and qualitative, actionable insights that help financial services firms measure and improve business performance

Nidhi Rai  |  Mumbai 

M&As nearly doubled to $100 billion in 2018; highest in value after 2013
The acquisition is subject to regulatory approvals and other customary closing conditions.

Crisil, an S&P Global Company, will acquire a Stamford, Connecticut-based company Greenwich Associates LLC. The $40 million acquisition will be done through Limited's subsidiary, Irevna US LLC and funded entirely through internal accruals.

Greenwich is a leading provider of proprietary benchmarking data, analytics and qualitative, actionable insight that help financial services firms worldwide 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.

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. The deal will accelerate Crisil’s strategy to become the leading player in the growing market of global benchmarking analytics.

Ashu Suyash, Managing Director & CEO, Crisil, said, “The driver behind our acquisition was to accelerate the idea to become the leader in the global benchmarking analytics financial global space across financial services. Coalition is already there with us and it serves corporate and investment banks while this serves much larger client base of over 300 clients so we see it strengthening our analytical play and client value proposition given the strong brand it is and the fact that it brings with it well recognized IT as well. We have a good cross sell opportunity also.”

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.

Stating that Greenwich has pioneered voice-of-the-customer benchmarks and analytics across the global financial services industry for nearly five decades, Steven Busby, the company's CEO, said that the combined data (of and Greenwich) would provide clients with the high-value actionable insights that they demand in today’s competitive business environment.

"...as a part of the Crisil group, we will collectively unleash greater growth opportunities for our clients and our people,” he added

The acquisition is subject to regulatory approvals and other customary closing conditions. The deal is anticipated to close in the first quarter of 2020. Greenwich’s partners and their team of approximately 150 people globally will join Crisil following the completion of the transaction.

First Published: Fri, December 20 2019. 18:39 IST
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