Fitch Group has acquired Business Monitor International as a means of expanding its financial information services.
Terms of the deal are undisclosed.
London-based Business Monitor provides country risk and industry analysis, focusing on emerging markets. The information is used by governments, multinational corporations, academia, financial institutions, investment funds and research centers. Under Fitch, the company will continue to operate independently.
The New York-based buyer provides financial information services through three different units: Fitch Ratings, Fitch Solutions and Fitch Learning. Fitch Ratings provides credit ratings and research, while Fitch Solutions compiles credit market data and related services. Fitch Learning offers educational and development services to the financial services industry.
The deal follows a similar transaction by ratings company Moody's Corp. (NYSE: MCO), which offered $85 million to increase its stake in credit ratings provider ICRA Ltd. in February. Before that, in December, Moody's bought Amba Investment Services.