RDC, a risk intelligence compliance screening company, is set to be acquired by Moody’s Corp.
The RDC acquisition positions Moody’s Analytics’ Bureau van Dijk (BvD), a provider of business intelligence and company data, to expand its range of data solutions, particularly in the areas of anti-money laundering (AML) and know your customer (KYC) data and due diligence services. It is expected to deepen Moody’s experience and expertise in financial and corporate reporting and analytics by incorporating RDC’s risk-relevant database and technology, including its true AI screening solution.
Moody’s provides credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets. Moody’s is the parent company of Moody’s Analytics, which offers software, advisory services and research for credit and economic analysis and financial risk management.
Moody’s will be acquiring RDC from Vista Equity Partners (Vista), an investment firm focused on enterprise software, data and technology-enabled businesses. Located in the greater Philadelphia area, RDC has been a part of the Vista portfolio since September of 2016. The compliance screening company provides anti-money laundering and reputational risk software that works to prevent criminal infiltration of the global financial system, working as an extension of its customers’ compliance and safety teams by providing risk alerts and ongoing monitoring for enhanced protection and performance.
The transaction is expected to close in the first quarter of 2020, subject to the satisfaction of customary closing conditions, including the expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
UBS Investment Bank served as financial adviser and Kirkland & Ellis LLP served as legal adviser to RDC and Vista Equity Partners.