Indian rating agency Crisil will acquire London-based analytics firm Coalition Development in a $44bn cash deal
The agency, whose indices are featured in 20 products in the India database, said in a statement that the acquisition will expand its service offerings and customer base.
The deal's maximum payout with earn-outs will be delivered over two years and will be linked to specific milestones for the company's future revenues, the company said.
The transaction is still pending regulatory approval.
Coalition provides analytics on markets, revenue opportunities and human capital and the firm will be included in Crisil's global research and analytics business.
"Coalition's cutting-edge analytical capabilities, in-depth understanding of the workings of financial markets and strong relationships with its clients will enable Crisil's global research and analytics business to widen service offerings, diversify its client base and deepen client relationships," said Crisil Managing Director and Chief Executive, Roopa Kudva (pictured).
Crisil is the world's largest provider of equity and fixed income research services with roughly 90% of the global market, covering more than 2,000 stocks.
Teams based in India, Argentina, China and Poland review more than 20% of the global equity derivatives market while offering more than 3,500 models.