|By Business Wire||
|June 9, 2014 09:04 AM EDT||
Moody’s Analytics, a unit of Moody’s Corporation (NYSE:MCO), announced today that it has agreed to acquire WebEquity Solutions, LLC. (“WebEquity”), a leading provider of cloud-based loan origination solutions for financial institutions.
The acquisition strengthens Moody’s Analytics’ position as a leader in loan origination software and bolsters its suite of award-winning risk management products for banks, insurance companies and corporations.
“WebEquity is a trusted provider of solutions that enable banks to improve the efficiency of their loan origination process while enhancing their risk management practices,” said Mark Almeida, President of Moody’s Analytics. “With its market leading software-as-a-service offering for community banks, WebEquity expands Moody’s Analytics’ portfolio of risk management solutions. Using multiple technologies, Moody’s Analytics and WebEquity offer powerful tools that meet the needs of the entire spectrum of financial institutions, from community banks to the world’s largest lenders.”
WebEquity’s hosted platform is used by more than 750 banks and credit unions to originate and manage agriculture, commercial & industrial, commercial real-estate, small business, construction, and land development loans. The company’s products support the work of over 20,000 lending professionals in the U.S., Canada and Australia.
“Moody’s Analytics’ strong global reputation and strengths in stress testing, regulatory reporting and risk analytics will enhance our products and help extend our offerings to larger financial institutions,” said Doug McGregor, CEO of WebEquity Solutions.
Based in Omaha, Nebraska, WebEquity was founded in 1985. The company has approximately 70 employees and produced revenue of nearly $15 million in 2013.
The acquisition will be funded from cash on hand and is expected to be accretive to Moody’s 2016 EPS before amortization of acquired intangible assets. Transaction terms were not disclosed. The acquisition is expected to close in the third quarter.
Financial Technology Partners LP and FTP Securities LLC (together "FT Partners") acted as exclusive strategic and financial advisors to WebEquity and its Board of Directors.
ABOUT MOODY'S ANALYTICS
Moody’s Analytics helps capital markets and risk management professionals worldwide respond to an evolving marketplace with confidence. The company offers unique tools and best practices for measuring and managing risk through expertise and experience in credit analysis, economic research and financial risk management. By providing leading-edge software, advisory services and research, including the proprietary analysis of Moody’s Investors Service, Moody’s Analytics integrates and customizes its offerings to address specific business challenges. Moody's Analytics is a subsidiary of Moody's Corporation (NYSE: MCO), which reported revenue of $3.0 billion in 2013, employs approximately 8,500 people worldwide, and has a presence in 31 countries. More information is available at www.moodysanalytics.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995
Certain statements contained in this release are forward-looking statements and are based on future expectations, plans and prospects for Moody’s business and operations that involve a number of risks and uncertainties. Moody's forward-looking statements in this release are made as of the date hereof, and the Company disclaims any duty to supplement, update or revise such statements on a going-forward basis, whether as a result of subsequent developments, changed expectations or otherwise. In connection with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, the Company is identifying certain factors that could cause actual results to differ, perhaps materially, from those indicated by these forward-looking statements. Those factors, risks and uncertainties include, but are not limited to, the current world-wide credit market disruptions and economic slowdown, which is affecting and could continue to affect the volume of debt and other securities issued in domestic and/or global capital markets; other matters that could affect the volume of debt and other securities issued in domestic and/or global capital markets, including credit quality concerns, changes in interest rates and other volatility in the financial markets; the uncertain effectiveness and possible collateral consequences of U.S. and foreign government initiatives to respond to the economic slowdown; concerns in the marketplace affecting our credibility or otherwise affecting market perceptions of the integrity or utility of independent agency ratings; the introduction of competing products or technologies by other companies; pricing pressure from competitors and/or customers; the impact of regulation as an NRSRO, the potential for new U.S., state and local legislation and regulations, including provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act and anticipated regulations resulting from the law; the potential for increased competition and regulation in the EU and other foreign jurisdictions; exposure to litigation related to our rating opinions, as well as any other litigation to which the Company may be subject from time to time; provisions in the Dodd-Frank Act legislation modifying the pleading standards, and EU regulations modifying the liability standards, applicable to credit rating agencies in a manner adverse to rating agencies; provisions of EU regulations imposing additional procedural and substantive requirements on the pricing of services; the possible loss of key employees; failures or malfunctions of our operations and infrastructure; any vulnerabilities to cyber threats or other cybersecurity concerns; the outcome of any review by controlling tax authorities of the Company’s global tax planning initiatives; the outcome of those legacy tax matters and legal contingencies that relate to the Company, its predecessors and their affiliated companies for which Moody’s has assumed portions of the financial responsibility; the ability of the Company to successfully integrate acquired businesses; currency and foreign exchange volatility; a decline in the demand for credit risk management tools by financial institutions; and other risk factors as discussed in the Company’s annual report on Form 10-K for the year ended December 31, 2013 and in other filings made by the Company from time to time with the Securities and Exchange Commission.
Oct. 24, 2016 05:45 AM EDT Reads: 11,370
Oct. 24, 2016 05:15 AM EDT Reads: 2,508
Oct. 24, 2016 05:00 AM EDT Reads: 5,531
Oct. 24, 2016 05:00 AM EDT Reads: 2,496
Oct. 24, 2016 05:00 AM EDT Reads: 854
Oct. 24, 2016 05:00 AM EDT Reads: 3,088
Oct. 24, 2016 04:45 AM EDT Reads: 3,325
Oct. 24, 2016 04:30 AM EDT Reads: 1,307
Oct. 24, 2016 04:30 AM EDT Reads: 2,500
Oct. 24, 2016 04:00 AM EDT Reads: 1,475
Oct. 24, 2016 04:00 AM EDT Reads: 1,717
Oct. 24, 2016 03:45 AM EDT Reads: 963
Oct. 24, 2016 03:45 AM EDT Reads: 891
Oct. 24, 2016 03:30 AM EDT Reads: 1,049
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
Oct. 24, 2016 03:30 AM EDT Reads: 9,671