On Wednesday, Barra and RiskMetrics owner MSCIannounced a definitive agreement to acquire performance reporting solutions provider Investor Force Holdings from ICGGroup for a purchase price of $23.5 million.
MSCI explained the purchase as being designed to "strengthen the network between asset owners, investment consultants and managers around the world," and said it "enhances MSCI's position as a leader in performance analysis and risk transparency."
MSCI says it intends to pay for the acquisition with cash on hand, and that the deal should close in the first quarter of 2013. Upon closing of the transaction, ICG will record a gain of approximately $15.4 million on the sale of its Investor Force stake.
The article MSCI to Buy Investor Force for $23.5 Million originally appeared on Fool.com.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.