NEW YORK, Sept. 7, 2016 /PRNewswire/ -- S&P Global (NYSE: SPGI) announced today that it has entered into a definitive agreement, subject to the fulfillment of regulatory requirements, to sell its Equity and Fund Research (Equity Research) business to CFRA, a leading independent provider of forensic accounting research, analytics and advisory services. The terms of the deal were not disclosed.
"Equity Research is a highly regarded global business with strong capabilities, talented employees, a long, successful history, and a solid market position. After careful consideration, we have determined that it would be even more valuable to a company focused on expanding upon the business' unique capabilities and investing in its future," commented Mike Chinn, President of S&P Global Market Intelligence, a division of S&P Global. "We believe the pairing of Equity Research with CFRA will benefit Equity Research's existing clients and the market overall while allowing S&P Global Market Intelligence to allocate resources to areas that more closely align with our vision and future growth."
"We are excited to incorporate Equity Research into CFRA's client offerings and invest in its continued success," noted Peter de Boer, Chief Executive Officer of CFRA. "This deal represents a substantial growth opportunity for us to expand our global offerings and create enhanced value for all of our clients. By adding Equity Research, CFRA will be the only independent research provider that offers broad fundamental equity and fund research coupled with deep forensic accounting expertise – allowing clients to make more informed and comprehensive investment decisions."
About S&P Global Market Intelligence
At S&P Global Market Intelligence, we know that not all information is important—some of it is vital. Accurate, deep and insightful. We integrate financial and industry data, research and news into tools that help track performance, generate alpha, identify investment ideas, understand competitive and industry dynamics, perform valuation and assess credit risk. Investment professionals, government agencies, corporations and universities globally can gain the intelligence essential to making business and financial decisions with conviction.
S&P Global Market Intelligence is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.spglobal.com/marketintelligence.
Copyright © 2016 by S&P Global Market Intelligence, a division of S&P Global. All rights reserved. The information contained in this Press Release and any referenced reports are for information purposes only. S&P Global Market Intelligence Parties assume no obligation to update the information contained herein or in any referenced reports ("Content") following publication in any form or format. The Content is provided on an "as is" basis.
CFRA (www.cfraresearch.com), is the world's largest provider of institutional-grade independent equity research. Through sophisticated forensic analysis and broad fundamental equity and fund research, CFRA empowers sophisticated investment professionals, advisors and risk managers with actionable ideas and proven results.
Founded in 1994, CFRA utilizes battle-tested methodologies that consistently identify actionable situations from which clients can gain an investment edge and avoid risk. CFRA's global clients include the world's leading institutional investors, wealth advisors, insurance companies, regulators, and professional service organizations.
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SOURCE S&P Global (SPGI)