Moody’s Corporation (MCO) announced the acquisition of Lewtan Technologies, a provider of analytical tools and data for the global structured finance market.
Lewtan, based in Waltham, Massachusetts, provides solutions to issuers, investors, underwriters and others to administer, monitor and value securitized transactions. Its products cover more than 200,000 bonds and 20,000 securitized deals, serving over 300 financial institutions worldwide.
Once the acquisition is finalized, Lewtan will become part of Moody’s Analytics structured analytics and valuations business, which provides an extensive data and analytics library for securitized assets.
“Lewtan’s capabilities are powerful complements to our structured analytics business,” said Mark Almeida, president of Moody's Analytics.
“With a strong position in the European market and a leading loan-level database of residential mortgages, Lewtan expands our global reach and broadens our product offering, positioning Moody’s Analytics to deliver a more comprehensive solution to our customers.”
Terms of the deal were not disclosed. Moody’s said the Lewtan acquisition is expected to have a minimal impact on Moody’s earnings per share in 2014 and 2015, and will be funded primarily from U.S. cash on hand.
