Crisil, a subsidiary of S&P Global, the rating agency, has agreed a $40m deal to acquire Greenwich Associates, the Connecticut-based consultancy known for its data, analytics and in-depth reports on the inner workings of markets.

Crisil said in a regulatory disclosure on December 19 it has agreed to acquire Greenwich for $40m in cash, a figure that could be adjusted when the deal is closed. The document showed that Greenwich’s consolidated revenues from operations amounted to $49m in 2018, up from $45m in 2017, but lower than the $54m generated in 2016.