Crisil on Friday announced that it has entered in an agreement to acquire UK based Coalition Development,a high end analytics company for an all cash transaction of up to £29 million (Rs 250 crore).
Coalition provides high end research and analytics to leading investment banks globally and it will help Crisil to strengthen its positioning in the space and also provide it large international clients.
The all-cash transaction has a maximum payout of £29 million (Rs 250 crore) with earn outs over 2 years,linked to achievement of specified milestones for the companys future revenues and profits, said Crisil in its statement.
The acquisition will be a part of Crisils global research and analytics business.
Coalitions cutting-edge analytical capabilities,in-depth understanding of the workings of financial markets and strong relationships with its clients will enable Crisil Global Research & Analytics to widen service offerings,diversify its client base and deepen client relationships, said Roopa Kudva,MD and CEO,Crisil.
Coalition reported revenues of £8 million in 2011 and will add to the EPS of Crisil from the first year.
MAPE Advisory Group acted as the adviser for the transaction.