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Mergers & Acquisitions | 11 December 2013

Moody's Corp Buys Amba Investment

by Pranali Shah
Moody's Corp Buys Amba Investment
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Moody’s Corp has acquired Amba Investment Services, a provider of investment research and quantitative analytics for global financial institutions.

Post this acquisition Amba will operate as part of Moody's Analytics majority-owned subsidiary, Copal Partners, which was acquired in 2011.

Avendus Capital was the sole financial advisor and Jones day was the legal advisor to Amba whereas from the buy side Mayer Brown served as the legal advisor.

Founded in 2003, Amba is Knowledge Process Outsourcing firm providing outsourced investment research and analytics to financial institutions, including asset managers, investment banks, broker-dealers, insurance and alternative investment firms. It operates service delivery centers in Costa Rica, India and Sri Lanka, as well as sales offices in major financial centers.

The company offers financial modeling, background research, idea generation, coverage maintenance, company and sector reports, tracking and analysis of news. It expects to generate nearly $39 million of revenue in 2013.

In 2007, Helion Ventures had invested $7 Mn in the company from its first fund and was in talks to exit its investment last year.

Last year, investment researcher Amba Research (India) Pvt. Ltd was looking to fully or partially sell the Bangalore-based outsourcing firm.

Moody's provides credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets with a presence in 29 countries.

In this space, SBI had acquired stake in an India-based credit information company, Equifax Credit Information Service; Also, HOV Services was selling its BPO firm SourceHOV.

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