... Finally, the market downturn has created some good M&A
opportunities for us. We are seeing a flow of bolt on acquisition
possibilities that can help to deepen our Risk and Governance Services.
we announced that RiskMetrics has signed definitive agreements to
acquire Innovest, a leading provider of sustainability research and
ratings to institutional investment community for approximately $16
million in cash.
We see that environmental factors like climate
change and sustainability are increasingly playing a role in the way
regulators oversee and funds invest and view their portfolio Risk.
acquisition of Innovest and largest RiskMetrics footprint in the
environmental, social and Governance space at a time when the financial
communities and regulators interest in sustainability are growing.
transaction is expected to contribute approximately $6 million revenue
for the ten months from our expected closing date of March 1, to
December 31, 2009 and is expected to be accretive to EBITDA by adding
$2 million to $2.5 million of adjusted EBITDA on an annual basis.
are also exploring numerous other Risk opportunities around the view
that in the aftermath of the financial crisis, we are going to see more
Risk regulation in the financial industry going forward.
general, regulation has been a key driver to our business growth and we
are confident that this will remain the case in the next few years. ...