CRISIL to acquire UK peer Coalition Development for Rs250 crore

Global analytical company, CRISIL, a unit of credit rating firm Standard & Poor's, today said that it has entered into deal to buy its UK-based peer Coalition Development Ltd, for as much as Rs250 crore (£29 million).

Formed in 2002, Coalition provides high-end analytics, mainly to leading global investment banks. 

It deploys unique proprietary analytics and algorithms to provide deep analytics on market size and dynamics, revenue opportunities and human capital. Coalition's analytics provide a clear, actionable picture of the markets and are used by boards, strategy teams and top management at leading financial services institutions.

The London-based company reported 2011 revenues of £8 million. The all-cash transaction has a maximum payout of £29 million with earn outs over two years, linked to achievement of specified milestones for the company's future revenues and profits.

CRISIL said that the acquisition will add to its earnings per share from the first year.

Mumbai-based CRISIL is one of the leading providers of high-end research and analytics services. It is the world's largest provider of equity and fixed income research services. It is also the leading provider of end-to-end risk and analytics services to trading and risk management functions at the world's leading financial institutions and corporations.