Further Positions MSCI as a Leading Provider of Performance Analysis and
Risk Transparency
NEW YORK--(BUSINESS WIRE)--
MSCI Inc. (NYSE: MSCI), a leading provider of investment decision
support tools worldwide, announced today that it has entered into a
definitive agreement to acquire Investor Force Holdings, Inc., an ICG
company (Nasdaq: ICGE) and a leading provider of performance measurement
and reporting software to institutional investment consultants in the
United States. The transaction is expected to close in the first quarter
of 2013, subject to customary closing conditions.
"We believe the combination of MSCI and InvestorForce presents a unique
opportunity to strengthen the network between asset owners, investment
consultants and managers around the world," said Henry Fernandez,
Chairman and CEO, MSCI Inc. "This acquisition enhances MSCI's position
as a leader in performance analysis and risk transparency and furthers
our goal of providing investment decision support tools to institutional
investors across all client segments and asset classes."
Jim Morrissey, CEO of InvestorForce, said, "InvestorForce's goal has
long been to drive efficiencies for and expand the influence of the
investment consultant. We believe that becoming part of MSCI, with its
global footprint and resources, will significantly enhance our ability
to do just that. MSCI's risk management products, including Barra and
RiskMetrics, and its strength in benchmarking make it a natural fit for
the InvestorForce performance reporting platform, and we are very
excited about the benefits this transaction will bring to our clients
and employees."
"InvestorForce's powerful suite of tools, including performance
reporting and peer benchmarking analytics, strongly complements MSCI's
performance measurement and risk management analytics products and
services," Mr. Fernandez added. "The acquisition will enable us to
strengthen our existing relationships with investment consultants and
broadens our role as a key provider of tools to the pension and
consultant community."
InvestorForce is a leading provider of performance reporting solutions
to the institutional investment community in the United States,
providing investment consultants with an integrated solution for daily
monitoring, analysis and reporting on institutional assets.
InvestorForce's technology leverages automated data collection to
provide institutional investment consultants and their institutional
investor clients with greater operational efficiencies and real-time
insight, transparency and deeper analysis into investment portfolios.
The InvestorForce platform is used by institutional investment
consultants to report on over $3.5 trillion of assets for over 3,500
institutional plans.
The total consideration for Investor Force Holdings, Inc. is $23.5
million, subject to a final working capital adjustment. The acquisition
will be funded through existing cash and is not expected to have a
material impact on MSCI's results of operations.
Davis Polk & Wardell LLP acted as legal advisers to MSCI.
-Ends-
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 indices, portfolio
risk and performance analytics, and governance tools.
The company's flagship product offerings are: the MSCI indices with
close to USD 7 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, indices
and analytics; MSCI ESG (environmental, social and governance) Research
screening, analysis and ratings; ISS governance research and outsourced
proxy voting and reporting services; FEA valuation models and risk
management software for the energy and commodities markets; and CFRA
forensic accounting risk research, legal/regulatory risk assessment, and
due‐diligence. MSCI is headquartered in New York, with research and
commercial offices around the world. MSCI#IR
1As of March 31, 2012, as published by eVestment,
Lipper and Bloomberg in September, 2012.
For further information on MSCI, please visit www.msci.com
About InvestorForce
InvestorForce is the premier provider of performance reporting solutions
to the institutional investment community, providing investment
consultants with an integrated solution for daily monitoring, analysis
and reporting on institutional assets. InvestorForce's technology
leverages automated data collection to provide institutional investment
consultants and their institutional investor clients with greater
operational efficiencies and real-time insight, transparency and deeper
analysis into investment portfolios. The InvestorForce platform is used
by institutional investment consultants to report on over $3.5 trillion
of assets for over 3,500 institutional plans.
For more information please visit www.investorforce.com
This document and all of the information contained in it, including
without limitation all text, data, graphs, charts (collectively, the
"Information") is the property of MSCI Inc. or its subsidiaries
(collectively, "MSCI"), or MSCI's licensors, direct or indirect
suppliers or any third party involved in making or compiling any
Information (collectively, with MSCI, the "Information Providers") and
is provided for informational purposes only. The Information may not be
reproduced or redisseminated in whole or in part without prior written
permission from MSCI.
The Information may not be used to create derivative works or to verify
or correct other data or information. For example (but without
limitation), the Information may not be used to create indices,
databases, risk models, analytics, software, or in connection with the
issuing, offering, sponsoring, managing or marketing of any securities,
portfolios, financial products or other investment vehicles utilizing or
based on, linked to, tracking or otherwise derived from the Information
or any other MSCI data, information, products or services.
The user of the Information assumes the entire risk of any use it may
make or permit to be made of the Information. NONE OF THE INFORMATION
PROVIDERS MAKES ANY EXPRESS OR IMPLIED WARRANTIES OR REPRESENTATIONS
WITH RESPECT TO THE INFORMATION (OR THE RESULTS TO BE OBTAINED BY THE
USE THEREOF), AND TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW,
EACH INFORMATION PROVIDER EXPRESSLY DISCLAIMS ALL IMPLIED WARRANTIES
(INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF ORIGINALITY,
ACCURACY, TIMELINESS, NON-INFRINGEMENT, COMPLETENESS, MERCHANTABILITY
AND FITNESS FOR A PARTICULAR PURPOSE) WITH RESPECT TO ANY OF THE
INFORMATION.
Without limiting any of the foregoing and to the maximum extent
permitted by applicable law, in no event shall any Information Provider
have any liability regarding any of the Information for any direct,
indirect, special, punitive, consequential (including lost profits) or
any other damages even if notified of the possibility of such damages.
The foregoing shall not exclude or limit any liability that may not by
applicable law be excluded or limited, including without limitation (as
applicable), any liability for death or personal injury to the extent
that such injury results from the negligence or wilful default of
itself, its servants, agents or sub-contractors.
Information containing any historical information, data or analysis
should not be taken as an indication or guarantee of any future
performance, analysis, forecast or prediction. Past performance does not
guarantee future results.
None of the Information constitutes an offer to sell (or a solicitation
of an offer to buy), any security, financial product or other investment
vehicle or any trading strategy. You cannot invest in an index.
MSCI's indirect wholly-owned subsidiary Institutional Shareholder
Services, Inc. ("ISS") is a Registered Investment Adviser under the
Investment Advisers Act of 1940. Except with respect to any applicable
products or services from ISS (including applicable products or services
from MSCI ESG Research Information, which are provided by ISS), neither
MSCI nor any of its products or services recommends, endorses, approves
or otherwise expresses any opinion regarding any issuer, securities,
financial products or instruments or trading strategies and neither MSCI
nor any of its products or services is intended to constitute investment
advice or a recommendation to make (or refrain from making) any kind of
investment decision and may not be relied on as such.
The MSCI ESG Indices use ratings and other data, analysis and
information from MSCI ESG Research. MSCI ESG Research is produced by ISS
or its subsidiaries. Issuers mentioned or included in any MSCI ESG
Research materials may be a client of MSCI, ISS, or another MSCI
subsidiary, or the parent of, or affiliated with, a client of MSCI, ISS,
or another MSCI subsidiary, including ISS Corporate Services, Inc.,
which provides tools and services to issuers. MSCI ESG Research
materials, including materials utilized in any MSCI ESG Indices or other
products, have not been submitted to, nor received approval from, the
United States Securities and Exchange Commission or any other regulatory
body.
Any use of or access to products, services or information of MSCI
requires a license from MSCI. MSCI, Barra, RiskMetrics, ISS, CFRA, FEA,
and other MSCI brands and product names are the trademarks, service
marks, or registered trademarks of MSCI or its subsidiaries in the
United States and other jurisdictions. The Global Industry
Classification Standard (GICS) was developed by and is the exclusive
property of MSCI and Standard & Poor's. "Global Industry Classification
Standard (GICS)" is a service mark of MSCI and Standard & Poor's.
Forward-Looking Statements
This press release contains 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 MSCI's 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 MSCI's
control and that could materially affect actual results, levels of
activity, performance, or achievements. Such risks, uncertainties and
factors include, but are not limited to: the risk that a condition to
closing of the proposed acquisition of InvestorForce may not be
satisfied; the failure to consummate or delay in consummating the
proposed acquisition for other reasons; MSCI's ability to achieve the
synergies and value creation contemplated by the proposed acquisition;
MSCI's ability to promptly and effectively integrate InvestorForce's
business; and the diversion of management time on acquisition-related
issues.
Other factors that could materially affect MSCI's 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, 2011 and
filed with the Securities and Exchange Commission (SEC) on February 29,
2012, and in MSCI's quarterly reports on Form 10-Q and current reports
on Form 8-K filed with the SEC. If any of these risks or uncertainties
materialize, or if MSCI's and InvestorForce's underlying assumptions
prove to be incorrect, actual results may vary significantly from what
we projected. Any forward-looking statement in this release reflects
MSCI's and InvestorForce's current views with respect to future events
and is subject to these and other risks, uncertainties and assumptions
relating to MSCI's and otherwise.
MSCI.
Edings Thibault
New York
+ 1.212.804.5273
or
Jo
Morgan
London
+ 44.20.7618.2224
or
Kristin Meza
New
York
+ 1.212.804.5330
or
MHP Communications
Sally
Todd | Christian Pickel
London
+ 44.20.3128.8515
or
InvestorForce
Jim
Morrissey
Conshohocken, Pennsylvania
+ 1.484.351.7208
or
ICG
Karen
Greene
Radnor, Pennsylvania
+ 1.610.727.6858
Source: MSCI Inc.
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