BMIENGFitch Group has just acquired Business Monitor International (BMI), an independent and worldwide recognized provider of country risk and industry analysis specialising in emerging and frontier markets. The deal has been financed through Fitch's cash reserves and the terms were not disclosed.
BMI has approximately 300 employees and is based in London with additional offices in New York, Singapore, and Pretoria. Subscribers to BMI's products include multinationals, governments, financial institutions, academia, investment funds and research centres in more than 160 countries.
Integrating country risk, industry analysis and financial markets, BMI produces detailed qualitative analysis and reports covering 200 countries and 24 industry verticals. Through Business Monitor Online, the company's web-based data and intelligence platform, clients can access macroeconomic and industry data, forecasts, proprietary research and company databases.
Richard Londesborough and Jonathan Feroze, Founders and co-CEOs of BMI, will continue to manage the business as part of Fitch Group, whose product offer will be further strengthened and expanded by this acquisition which represents an excellent strategic fit with Fitch's other businesses, particularly in the area of financial information services.
The acquisition will complement the Fitch Group's business line-up which currently spans three areas: credit ratings with Fitch Ratings, credit research and databases with Fitch Solutions, and learning and development solutions with Fitch Learning. Fitch Group reported revenue of €740.1 million for 2013, up 12.5% like-for-like compared with 2012.
Paris,
March 14, 2014