CRISIL, S&P Global's majority-owned securities ratings affiliate based in Mumbai, has agreed to acquire Greenwich Associates.
The deal, the terms of which were not disclosed, is expected to close in the first quarter of 2020, according to a Greenwich Associates news release Thursday.
The acquisition will "complement CRISIL's existing portfolio of products and expand offerings across financial services including commercial banks and asset and wealth managers," the news release said.
“Our mission has been and continues to be a leading global data analytics and advisory company so we view this acquisition as a way to amplify and accelerate that mission, where we get from CRISIL basically more data, IT resources, more global scale, just to accelerate our expansion plan,” said Steven Busby, Greenwich Associates CEO, in a telephone interview.
Greenwich Associates is currently privately held.
“We will continue to maintain the Greenwich brand in some form,” Mr. Busby said. No immediate changes are expected, he added.
“The merger is something we’ve planned for and we think we’ve found the ideal partner,” he said, adding that there are no leadership changes expected.