CRISIL Acquires Pipal Research for $12.75M

A giant company taking over another big company is not very rare these days. Credit rating agency CRISIL follows the same trend by acquiring knowledge process outsourcing company Pipal Research Corporation. The deal cost CRISIL $12.75-million (Rs 58.25 crore).

Pipal is run by one of the major BPO services Firstsource Solutions that garnered 51% stake in the firm in 2004. Pipal is focused on providing business and investment research services in sectors like technology, industrial sectors, telecommunications, consumer packaged goods etc.

The company has its head quarter in Chicago. Three research centers of the company in India are situated at Gurgaon, Noida and Bangalore.

In the current financial year that ended March 31, 2010, the company reported a revenue of $8.1 million.

On the other hand, CRISIL is owned by Standard & Poor’s and operates a KPO division named Irevna. Services such as credit research, derivatives support, equity research are provided by Irevna.

Irevna, which has its centers spread across Chennai, Mumbai, Buenos Aires, Wroclaw (Poland) is now opening another branch in China. It claims to have five of the world’s 10 investment banks as its clients.