Moody's Acquires Amba Investment Services; Terms Undisclosed - Quick Facts

(RTTNews) - Credit ratings agency Moody's Corp. (MCO) announced Wednesday that it has acquired Amba Investment Services, a provider of investment research and quantitative analytics for global financial institutions. Amba will operate as part of Moody's Analytics majority-owned subsidiary, Copal Partners. The terms of the transaction were not disclosed.

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

Moody's stated that the deal was funded from cash on hand. The deal is not expected to have a material impact on Moody's earnings per share. Amba expects to generate nearly $39 million of revenue in 2013.

Moody's acquired a majority stake in Copal in 2011.