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Crisil, a subsidiary of Standard & Poor (S&P), has inked an agreement to acquire the business of Pipal, whose clientele includes companies from the technology and financial services sector, the company said in a statement here.
Headquartered in Chicago, Pipal Research posted a revenue of $8.1 million for the fiscal year ending March, 2010. As of now, Firstsource Solutions holds the majority stake in Pipal, which provides business and investment research services. It has three research centres within the country at Gurgaon, Noida and Bangalore. Crisil CEO & Managing Director Roopa Kudva said the acquisition will enable “us to further strengthen our leadership position in the KPO space. The two organisations have complementary strengths, which will enable us to serve our clients better.”