Moody’s Corporation announced that it has entered into a definitive agreement to acquire Cortera, a leading provider of North American credit data and workflow solutions.
The acquisition enhances Moody’s integrated risk assessment capabilities and significantly extends coverage in the small and medium enterprise (SME) segment, the statement said.
“Cortera plays an important role in helping businesses understand each other,” said Stephen Tulenko, President of Moody’s Analytics. “Our customers will be able to leverage Cortera’s extensive information on small businesses with Moody’s proprietary analytic tools to make better decisions.”
The acquisition of Cortera will augment Moody’s extensive Orbis database of private company information and enhance its know-your-customer (KYC), commercial lending, and supply chain solutions.
“Combining Moody’s capabilities with Cortera’s robust data and analytics on US private companies will provide customers with deeper insights” said Jim Swift, CEO of Cortera. “This deal will greatly enhance our reach and capabilities and enable us to meet evolving customer needs.”
The acquisition is expected to close in the first quarter of 2021, subject to the satisfaction of customary closing conditions, including the expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Cortera will be integrated into MA’s Research, Data & Analytics line of business.
Paul Hastings LLP served as legal advisor to Moody’s on the transaction. Raymond James & Associates served as financial advisor to Cortera and Morris, Manning & Martin, LLP served as legal advisor to Cortera.
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