CRISIL Ltd. said Wednesday it has signed a pact to buy unlisted U.S.-based knowledge process outsourcing company Pipal Research Corp. for $12.75 million.
Pipal Research reported revenue of $8.1 million in the fiscal year through March 2010, the unit of Standard & Poor's Corp. said in a regulatory filing.
Currently, Firstsource Solutions Ltd. owns about 51% of Pipal, CRISIL said.
Pipal Research provides business and investment research services. It has an office in Chicago and three research centers in India.
Source: WSJ