MSCI Acquires Remaining 66% Of Burgiss Group For $697M Cash

MSCI Inc. MSCI has agreed to acquire the remaining 66% of The Burgiss Group, LLC for $697 million in cash. 

MSCI will have invested $913 million to acquire all of Burgiss since its initial investment in January 2020.

Burgiss is a Hoboken, New Jersey-based market-leading provider of data, analytics, and technology solutions for investors in private assets. 

Burgiss offers private asset data, analytics, and software applications, including leading research-quality performance data that dates back to 1978. Burgiss serves ~1,000 clients – limited partners, general partners, and financial intermediaries – in 40 countries with 650+ employees.

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MSCI held cash and equivalents of $792.3 million as of June 30, 2023.

Henry Fernandez, Chairman, and Chief Executive Officer of MSCI, commented, "Burgiss will help us expand one of our key strategic growth opportunities and generate substantial value for our shareholders over time. I am confident that our pre-existing partnership with Burgiss will support our successful integration of this new business."

Burgiss is expected to generate over $90 million in revenue in FY23 with an EBITDA and operating income margin in the mid-teens. 

The transaction is expected to close 4Q23 and will be funded through MSCI's existing liquidity sources.

Price Action: MSCI shares are trading lower by 0.18% at $547.99 on the last check Monday.