Global Credit rating agency Moody's Investor Service has announced the acquisition of Amba Research Investment Ltd., a KPO firm providing investment research and quantitative analytics support services to global capital market industry, for an undisclosed amount.
Amba Research was founded in 2003 by four senior directors of Goldman Sachs, J P Morgan and Deutsche Bank. Company entered India in 2005, two years later of opening first delivery centre in Sri Lanka. As of now company has delivery centres in Costa Rica, Sri Lanka and India. Amba Research was backed by Helion venture fund I, which invested $10 million in 2007 in the company. Company is expected to generate $39 million revenue in 2013.
Company routed this acquisition through Copal Partners in which Moody owns majority stake. It was acquired by Moody in 2011. The deal is financed by cash and is unlikely to have a major impact on EPS of Moody. The deal will strengthen Moody's research and analytical capabilities through Copal Partners. Also Copal Partners will also be in advantage as now being leading outsourcer to corporate finance and asset management customers.
As per unofficial sources, the deal value is $80 - 85 million. Mayer Brown acted as legal advisor to Moody while Amba was advised by investment bank Avendus capital and law firm Jones Day
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