I missed this while travelling during the week: Here’s the details from the Press release:
Moody’s Corporation Acquires Economy.com
Acquisition
of Economic Research and Data Capabilities Complements Moody’s Research
Business; Supports Economy.com’s Business Expansion
New York, NY – November 17, 2005 –
Moody’s Corporation (NYSE: MCO) today announced that it has acquired
Economy.com, a leading independent provider of economic research and
data services, for $27 million. The acquisition will deepen Moody’s
analytical capabilities to broader areas of economic and demographic
research, expand the range of products and services offered to
institutional customers and introduce new customers to Moody’s. It will
provide Economy.com with access to Moody’s extensive client base, deep
product marketing capabilities, and other resources needed to expand
its business. The transaction was funded by cash on hand and closed
today. Additional terms of the transaction will not be disclosed and
the financial impact to Moody’s is not expected to be material.The company, to be renamed Moody’s Economy.com, will
continue to be jointly managed by Getman and Mark Zandi, Chief
Economist. Both Getman and Zandi will report to Mark Almeida, Senior
Managing Director, Moody’s Investors Service.
Very interesting acquisition . . .
>
Other source:
Moody’s buys Economy.com for $27 mln in cash
Thu Nov 17, 2005 4:40 PM ET
http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews
&storyID=2005-11-17T214017Z_01_N17708644_RTRIDST_0_FINANCIAL-MOODYS.XML
