CRISIL’s Board of Directors has approved the acquisition of 100% of Peter Lee Associates’ equity share capital for AUD 6.15 million, subject to closing adjustments. The acquisition’s legally binding agreement was signed today. CRISIL’s 100% subsidiary, CRISIL Irevna Australia, will complete the acquisition. CRISIL’s existing product portfolio will be supplemented, and offerings will be expanded to new geographies and segments across financial services, including commercial banks and investment management. The transaction will accelerate CRISIL’s APAC strategy to become the dominant player in the expanding market.
Peter Lee was established in 2004 and is based in Australia. It operates in New Zealand. Peter Lee is an Australian research and consulting firm whose mission is to assist leading financial service corporations in developing and maintaining a competitive advantage in client service. CRISIL acquired Peter Lee’s businesses, which had revenue from operations of AUD 3.2 million in FY 2022, AUD 3.0 million in FY 2021, and AUD 2.4 million in FY 2020.