LONDON & NEW YORK--(BUSINESS WIRE)--Mar 14, 2014--Fitch Group today announced it has acquired Business Monitor International (BMI), an independent provider of country risk and industry analysis specializing in emerging and frontier markets. Financial terms of the transaction were not disclosed.
The addition of BMI strengthens and expands Fitch Group's client offering in financial information services. Subscribers to BMI's products include decision makers at multinationals, governments, academia, financial institutions, investment funds and research centers in more than 160 countries.
Paul Taylor, President and CEO of Fitch Group, commented: "We are excited to add BMI's world-class research, data, and analytical capabilities to Fitch's global suite of financial information services. BMI and Fitch share a commitment to pairing robust data with sophisticated analysis to produce content that is insightful and accessible."
Richard Londesborough and Jonathan Feroze, Founders and Co-CEOs of BMI, commented: "The strategic fit between BMI and Fitch Group is excellent, not least in terms of the entrepreneurial culture shared by both companies. Clients will benefit from a broader platform of research products, greater global reach and Fitch Group's focus on growth."
BMI will continue to operate independently as Business Monitor International, a Fitch Group Company. Mr. Londesborough and Mr. Feroze will continue to lead BMI, reporting to Mr. Taylor. BMI was previously owned by growth equity investor Spectrum Equity in partnership with BMI Founders and employees.
About Business Monitor International:
Business Monitor International (BMI) integrates country risk and industry analysis and forecasts on global, regional, and country level developments and trends across 200 countries and 24 industry verticals. Business Monitor Online, the company's enterprise platform, enables clients to access daily analyses, time series and forecast data, reports and proprietary databases. BMI has approximately 300 employees and is based in London with additional offices in New York, Singapore, and Pretoria. For more information visit www.businessmonitor.com
About Fitch Group:
Fitch Group is a global leader in financial information services with operations in more than 30 countries. In addition to Business Monitor International, Fitch Group includes: Fitch Ratings, a global leader in credit ratings and research; Fitch Solutions, a leading provider of credit market data, analytical tools and risk services; and Fitch Learning, a provider of learning and development solutions for the global financial services industry. Fitch Group is jointly owned by Paris-based Fimalac and New York-based Hearst Corporation. For more information visit www.fitchratings.com/fitchgroup
CONTACT: Fitch Group
Sheetal Chanderkar, +1 212-908-0502
Simon Elgar, +44 (0)207 246 5108
Daniel Noonan, +1 212-908-0706
Rebecca O'Neill, +44 20 3530 1697
KEYWORD: UNITED KINGDOM UNITED STATES EUROPE NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE
SOURCE: Fitch Group
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PUB: 03/14/2014 03:42 AM/DISC: 03/14/2014 03:42 AM