Equistone Partners Europe agreed to acquire a majority stake in Moody's Analytics Knowledge Services from Moody's Corp., an Equistone spokesman said Wednesday.
The value of the deal to acquire the analytics firm supplying research services for investment banking, investing, private equity and consulting to more than 250 banks, money managers and consulting firms globally has not been disclosed. The transaction is expected to close later in 2019.
"The market for bespoke research and analytical support to the global financial services sector has expanded significantly in the past decade, fueled by a growing appreciation that utilizing offshore, specialist services can enhance output and provide operational benefits," said Tim Swales, partner at Equistone, in a news release. "Knowledge Services has firmly established itself as one of the leading providers in this fast-growing space."
Robert King, CEO of Knowledge Services, added in the news release: "As an independent company, with Equistone's backing, we plan to continue expanding our proprietary suite of automation tools by investing further in our technology capabilities."
Equistone was advised by DC Advisory, Latham & Watkins, Ernst & Young, and Marsh. Moody's was advised by Centerview Partners, and Slaughter and May.