INSUBCONTINENT EXCLUSIVE:
Mumbai: Crisil, the local unit of S-P, is accelerating its analytics and other service offerings amid a slowdown in its key rating business
and regulatory overhang, CEO Ashu Suyash said in an interview.
In December, it acquired US-based Greenwich Associates for nearly $40
million, which will help it raise the data analytics offering to Indian financial services
Suyash said the acquisition will help the company add new products to its research and analytics business, and diversify away from the
The services Greenwich offers can also be introduced to the Indian market in the future.
“Today, 70 per cent of Crisil’s revenues come
from outside, that ratio will increase
It is a great addition for our company and will compliment the Coalition acquisition we did in 2012
Coalition was doing benchmarking analytics for only the corporate and investment banking
Greenwich is across the financial sector, including asset management and wealth management,” Suyash said
In 2012, Crisil had acquired UK-based Coalition Development, which provided highend analytics mainly to leading global investment banks, for
For Greenwich, the company will pay $40 million, out of which $34 million is to be paid upfront and the balance on achieving some revenue
Crisil has signed a definitive agreement and expects to close the deal by the first quarter of fiscal 2021
The market for benchmark analytics in India is still at a nascent stage but Crisil hopes that they can introduce these products in the
country in the next couple of years
“The Indian market needs to evolve because we don’t see that kind of sharp approach for the investment banking side
So, in the first two years, they will work for clients outside India
Greenwich works with over 300 clients whereas today our global client list is 50 to 75, so we have the ability to sell a lot of other
products to those clients
Its topline is about $46 million and it will add to our earnings per share (EPS) in 12 to 18 months,” Suyash said.
