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Laxman Pai, Opalesque Asia: UK private equity firm Equistone Partners Europe has struck a deal to acquire Moody's Analytics Knowledge Services (MAKS).
The London-based company provides bespoke research, analytics and automation technology to the financial services sector. With nine delivery centres around the world, Knowledge Services serves more than 250 banks, asset managers and consulting firms globally.
MAKS was set up in 2014 and provides research, analytics and automation technology to the financial services sector. The financial details of the transaction were not disclosed.
"The market for bespoke research and analytical support to the global financial services sector has expanded significantly in the past decade, fueled by a growing appreciation that utilizing offshore, specialist services can enhance output and provide operational benefits," said Tim Swales, partner at Equistone, in a press release.
"Knowledge Services has firmly established itself as one of the leading providers in this fast-growing space," Tim added.
The existing management team also invested and will remain in place. Richard Briault, investment director at Equistone, will join Knowledge Services' board.
The transaction is expected to close later this year, subject to customary closing conditions.
Robert King, CEO of Knowledge Services, said: "The success of Knowledge Services is a testament to the strength of demand from the financial services industry for ...................... To view our full article Click here
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