MSCI Announces Sale of CFRA
NEW YORK -- March 12, 2013
MSCI Inc. (NYSE: MSCI), a leading provider of investment decision support
tools worldwide, announced today that it has entered into a definitive
agreement to sell its CFRA business, a leading provider of forensic accounting
research, to a private investor for an undisclosed purchase price. The
transaction is expected to close within the next two months, subject to
customary closing conditions.
CFRA is included within MSCI’s Governance business segment for financial
reporting purposes. The transaction is not expected to have a material impact
on MSCI’s results of operations.
Davis Polk & Wardwell LLP acted as legal advisers to 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 basis^1;
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; 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
^1As of March 31, 2012, as published by eVestment, Lipper and Bloomberg in
For further information on MSCI, please visit www.msci.com
Founded as the Center for Financial Research and Analysis (“CFRA”) in 1994,
CFRA is a global independent research business that provides forensic
accounting, earnings quality, and legal research and solutions to
institutional investors, underwriters, and other financial institutions. CFRA
is a recognized leader in Forensic Accounting Research and develops unique
exception-based research products that help clients sift through the noise and
assess the quality of inputs into their models and processes. The business
will continue to operate under the “CFRA” brand.
For more information please visit www.cfraresearch.com
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MSCI’s indirect wholly-owned subsidiary Institutional Shareholder Services,
Inc. (“ISS”) is a Registered Investment Adviser under the Investment Advisers
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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
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“Global Industry Classification Standard (GICS)” is a service mark of MSCI and
Standard & Poor’s.
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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, 2012 and filed with the Securities and Exchange Commission (SEC) on March
1, 2013, 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 underlying assumptions prove to be incorrect,
actual results may vary significantly from what we projected. Any
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Edings Thibault, + 1-212-804-5273
Jo Morgan, + 44-20-7618-2224
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