Moody's Closes USD 278m Acquisition of US Commercial Real Estate Data Provider Reis.

MANews-(C)2009-2018

16 October 2018 - New York, US-based financial services company Moody's Corp.'s (NYSE: MCO) has closed its acquisition of US commercial real estate data provider Reis, Inc. (NASDAQ: REIS) in an all-cash transaction valued at approximately USD 278m, the company said.

As previously reported on 13 September, Moody's wholly-owned subsidiary, Moody's Analytics Maryland Corp., commenced a tender offer to purchase all of the issued and outstanding shares of common stock of Reis at a purchase price of USD 23.00 per share, net to the seller in cash, without interest and less any applicable withholding taxes.

The tender offer follows an announcement on 30 August 2018 that Moody's and Reis had entered into a definitive merger agreement for Moody's to acquire all outstanding shares of Reis in an all-cash transaction.

The tender offer expired on 12 October.

This acquisition will expand Moody's network of data and analytics as a provider of information and analytics for the US commercial real estate market.

Moody's is an essential component of the global capital markets, providing credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets. Moody's Corp. is the parent company of Moody's Investors Service, which provides credit ratings and research covering debt instruments and securities, and Moody's Analytics, which offers leading-edge software, advisory services and research for credit and economic analysis and financial risk management.

Reis is a provider of US commercial real estate data. Over nearly 40 years, Reis has compiled a rich archive of detailed information on some 18m properties nationwide. Providing analysis and forecasts covering 275 metropolitan markets and 7,700 submarkets.

Skadden, Arps, Slate, Meagher and Flom LLP is acting as legal counsel to Moody's. Fried Frank Harris Shriver and Jacobson LLP is acting as legal counsel to Reis and Canaccord Genuity is serving as financial advisor to Reis.

Country: USA

Sector: Construction/Real Estate

Target: Reis, Inc

Buyer: Moody's Corp

Vendor:

Deal size in USD: 278m

Type: Corporate Acquisition

Financing: Cash and Stock

Status: Closed

Buyer advisor: Skadden, Arps, Slate, Meagher and Flom , ,

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