Crisil to buy Pipal Research of US for $12.75 million
22 Sep 2010
Credit Rating Information Services India Ltd (Crisil), India's largest rating, research, risk and policy advisory company, will acquire US-based Pipal Research Corporation for around $12.75 million.
Crisil, 51.5-per cent owned by US rating agency Standard & Poor's, has signed an agreement to purchase the business of Pipal Research, the rating agency said in a filing with the Bombay Stock Exchange (BSE).
Pipal, a leading player in the knowledge process outsourcing (KPO) industry, will be merged with Crisil's KPO division, Irevna.
Datamonitor Black Book of Outsourcing has consistently ranked Irevna as the No1 financial services and investment KPO firm, Crisil said in its filing.
"The Irevna-Pipal combination will be uniquely positioned in the high-end analytical offshoring space with the widest range of services, geographic locations, and customer diversity," Crisil said.
"Pipal's services, clients and delivery locations are complementary to Irevna's, enabling the combine to strengthen its leadership in the KPO industry," it added.
