Moody’s Corporation has announced it has entered into a definitive agreement to acquire global business intelligence firm Bureau van Dijk for €3 billion ($4.43 billion).
According to a statement, the acquisition of Bureau van Dijk will be funded through a combination of offshore cash and new debt financing.
The transaction is subject to regulatory approval in the European Union and is expected to close late in the third quarter of 2017, the statement said.
Moody’s president and chief executive Raymond McDaniel said the acquisition provides significant opportunities to offer complementary products, create new risk solutions and extend its reach to new and evolving market segments.
“Bureau van Dijk is a high growth information aggregator and distributor that positions Moody’s at the centre of a unique network of global risk data,” Mr McDaniel said.
Bureau van Dijk deputy chief executive Mark Schwerzel said Moody’s has a strong brand and global reach.
“The addition of Bureau van Dijk’s powerful information platform to Moody’s Analytics’ suite of risk management solutions presents a wide range of opportunities for us to better serve our combined customer base,” Mr Schwerzel said.
Read more:
Tech giants are a drain on growth: Morphic
Federal Court disqualifies Avestra AM directors
RIAA launches Impact Investing Forum
A US-listed technology company has withdrawn its bid for the Australian super administration group after its board said the price offered wa...
Australian infrastructure boutique RARE will be changing its name in the new year, after integrating with fellow Franklin Templeton firm Cle...
The ACCC will not oppose IOOF’s acquisition of MLC Wealth Management, ruling the merged retail wealth giants will still face competition f...
Get notifications in real-time for staying up to date with content that matters to you.
Read More