NEW YORK--(BUSINESS WIRE)--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.
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