... 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.

Today 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.

The 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.

This 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.

We 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.

In 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. ...