CRISIL to acquire Pipal Research for $12.75 mn
September 22nd, 2010 - 4:50 pm ICT by IANSMumbai, Sep 22 (IANS) Credit rating agency CRISIL Wednesday said it is buying US-based knowledge process outsourcing firm Pipal Research in a $12.75 million deal.
CRISIL expects the acquisition to add more teeth to its high-end analytical capabilities providing a wider range of services.
“This will enable us to further strengthen our leadership position in the high-end KPO space. Pipal’s deeply embedded client relationships provide a strong platform for growth,” said Roopa Kudva, chief executive, CRISIL.
CRISIL is the Indian arm of global rating agency Standard and Poor. Pipal is controlled by Firstsource Solutions — a leading business outsourcing company promoted by ICICI Bank.
CRISIL’s off-shoring division, Irevna, provides high-end analytical services spanning equity research, credit research, derivatives support, risk management, actuarial services and foreign exchange research.
Irevna provides its services from Chennai, Mumbai, Buenos Aires, Wroclaw (Poland), and is in the process of setting up a research centre in China.
With three research centres in Gurgaon, Noida and Bangalore, and an office in Chicago, Pipal provides business and investment research services.
The CRISIL stock rose in early trade to touch an intra-day high of Rs.6,190 on the Bombay Stock Exchange, but slipped later on to trade in the red as profit booking kicked in.
Tuesday, it had closed at Rs.6,168.95.
The FirstSource stock rose 3.3 percent to touch the intra-day high of Rs.28.20.
- Ratings reduce borrowing costs of SMEs: Crisil - Apr 19, 2011
- Reliance Group firms' stocks soar - Feb 28, 2012
- Fortis buys Singapore diagnostic firm for $50 mn, stock up - Feb 01, 2012
- Reliance-ADAG shares rally - Dec 27, 2011
- Satyam soars 12 percent ahead of annual earnings in two years - Sep 22, 2010
- Shares of Anil Ambani group firms soar Tuesday - Oct 05, 2010
- India, China to see growth in BPO sector by 2015 - Aug 22, 2011
- Supreme Court order takes toll on telecom scrips - Feb 02, 2012
- New telecom firm promoter scrips fall, older one's gain on SC order (Lead) - Feb 02, 2012
- Shipping Corp, ITI scrips rise on stake sale, quota extension - Oct 06, 2010
- Telecom stocks soar after Airtel hikes tariff - Jul 25, 2011
- RCom, DB Realty, Unitech shares soar after bail to executives - Nov 23, 2011
- Sensex bounces back, closes 153 points higher (Lead) - Nov 15, 2010
- Sensex advances by 103 points; highest level since 2008 - Aug 04, 2010
- Sensex rebounds 54 points; TCS, RIL rise (Roundup) - Jun 21, 2011
Tags: actuarial services, analytical services, bombay stock exchange, business outsourcing, client relationships, crisil, equity research, exchange research, firstsource solutions, icici bank, indian arm, investment research, irevna, knowledge process outsourcing, leadership position, noida, profit booking, rs 6, support risk management, wroclaw poland