Further Positions MSCI as a Leading Provider of ESG Research and Analysis
NEW YORK--(BUSINESS WIRE)--
MSCI Inc. (NYSE:MSCI) announced today that it has agreed to acquire GMI
Ratings, a provider of ESG (environmental, social and governance)
ratings and research to institutional investors, through its subsidiary
MSCI ESG Research Inc. The transaction is expected to close in the third
quarter, subject to customary closing conditions.
"The acquisition of GMI enhances MSCI's position as a leader in ESG
research," said Remy Briand, Managing Director and Head of ESG Research.
"The addition of GMI's corporate governance research and ratings will
enable MSCI to offer its clients a depth and quality of coverage across
all three pillars of ESG research that will be unmatched in the
marketplace. These tools are growing in importance as investors seek to
understand more fully the risks in their portfolios."
John Higgins, Chairman of GMI Ratings, said, "GMI has long been a
believer in the importance of incorporating ESG factors into the
investment process. We believe that becoming part of MSCI, with its
global footprint and resources, will significantly enhance our ability
to do just that. MSCI's ESG research and its strength in benchmarking
make it a natural fit for GMI, and we are very excited about the
benefits this transaction will bring to our clients."
The total consideration for GMI Ratings is $15 million in cash, subject
to customary closing adjustments. The transaction is not expected to
have a material impact on MSCI's results of operations for 2014. Davis
Polk & Wardwell LLP acted as legal advisers to MSCI.
About MSCI
MSCI Inc. is a leading provider of investment decision support tools to
investors globally, including asset managers, banks, hedge funds and
pension funds. MSCI products and services include indexes, portfolio
risk and performance analytics, and ESG data and research.
The company's flagship product offerings are: the MSCI indexes with
approximately USD 8 trillion estimated to be benchmarked to them on a
worldwide basis1; Barra multi-asset class factor models,
portfolio risk and performance analytics; RiskMetrics multi-asset class
market and credit risk analytics; IPD real estate information, indexes
and analytics; MSCI ESG (environmental, social and governance) Research
screening, analysis and ratings; and FEA valuation models and risk
management software for the energy and commodities markets. MSCI is
headquartered in New York, with research and commercial offices around
the world. MSCI#IR
1 As of September 30, 2013, as reported on January
31, 2014 by eVestment, Lipper and Bloomberg
About MSCI ESG Research
MSCI ESG Research products and services are designed to provide in-depth
research, ratings and analysis of environmental, social and
governance-related business practices to companies worldwide. Ratings
and data from MSCI ESG Research are also used in the construction of the
MSCI ESG Indexes. MSCI ESG Research Inc. is a Registered Investment
Adviser under the Investment Advisers Act of 1940. MSCI is a signatory
to the United Nations-backed Principles for Responsible Investment (PRI).
About GMI Ratings
GMI Ratings is a provider of research and ratings on environmental,
social, governance (ESG) and accounting-related risks affecting the
performance of public companies. The firm's ESG ratings on 6,400
companies worldwide incorporate 150 ESG KeyMetrics® to help investors
assess the sustainable investment value of corporations. The firm also
provides Accounting and Governance Risk (AGR®) ratings on more than
20,000 public companies worldwide. Clients of GMI Ratings include
leading institutional investors, banks, insurers, auditors, regulators
and corporations seeking to incorporate accounting and ESG factors into
risk assessment and decision-making. A signatory to the Principles for
Responsible Investment (PRI), GMI Ratings was formed in 2010 through the
merger of GovernanceMetrics International, The Corporate Library and
Audit Integrity.
For further information on MSCI, please visit our website at www.msci.com
Forward-Looking Statements
This press release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements relate to future events or to future financial performance
and involve known and unknown risks, uncertainties and other factors
that may cause our actual results, levels of activity, performance, or
achievements to be materially different from any future results, levels
of activity, performance, or achievements expressed or implied by these
forward-looking statements. In some cases, you can identify
forward-looking statements by the use of words such as "may," "could,"
"expect," "intend," "plan," "seek," "anticipate," "believe," "estimate,"
"predict," "potential," or "continue," or the negative of these terms or
other comparable terminology. You should not place undue reliance on
forward-looking statements because they involve known and unknown risks,
uncertainties and other factors that are, in some cases, beyond our
control and that could materially affect actual results, levels of
activity, performance, or achievements.
Other factors that could materially affect actual results, levels of
activity, performance or achievements can be found in MSCI's Annual
Report on Form 10-K for the fiscal year ended December 31, 2013 filed
with the Securities and Exchange Commission ("SEC") on February 28,
2014, and in quarterly reports on Form 10-Q and current reports on Form
8-K filed with the SEC, and may also include the risks and uncertainties
associated with a failure to consummate or a delay in the consummation
of the proposed transaction, including as a result of a failure to
satisfy the conditions to closing in a timely manner or at all. If any
of these risks or uncertainties materialize, or if our underlying
assumptions prove to be incorrect, actual results may vary significantly
from what MSCI projected. Any forward-looking statement in this release
reflects MSCI's current views with respect to future events and is
subject to these and other risks, uncertainties and assumptions relating
to MSCI's operations, results of operations, growth strategy and
liquidity. MSCI assumes no obligation to publicly update or revise these
forward-looking statements for any reason, whether as a result of new
information, future events, or otherwise, except as required by law.
MSCI Contact
MSCI, New York
W. Edings Thibault, +
1-212-804-5273
or
Media Enquiries:
MSCI, New York
Kristin
Meza,+ 1-212-804-5330
or
MSCI, London
Jo Morgan, + 44 20
7618 2224
or
MHP Communications, London
Nick Denton |
Christian Pickel, + 44 20 3128 8754/8208
Source: MSCI Inc.
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