MSCI Inc. (NYSE:MSCI) entered into a definitive agreement to acquire Real Capital Analytics, Inc. for $950 million on August 2, 2021. The consideration will be paid in cash. The transaction is expected to be funded with existing cash on hand. Under the transaction, Real Capital Analytics will be added under MSCI's real estate business and will be presented within MSCI's All Other - Private Assets reporting segment. Chief Executive Officer and the Chief Operating Officer, Bob White will be retiring and staying on in an advisory capacity with MSCI for about a year. The rest of the management team is staying in place and merge with MSCI real estate management team. The transaction subject to regulatory approvals and customary closing conditions and is expected to close at the end of the third quarter, or early in the fourth quarter of 2021. The transaction is expected to result in some modest dilution to adjusted EPS in the near term due to deferred revenue write-down and is expected to be accretive to earnings to adjusted EPS in 2022. William J. Chudd, Michael Mollerus, Travis Triano, Pritesh P. Shah and Arthur J. Burke of Davis Polk & Wardwell LLP acted as legal advisor to MSCI Inc. in the transaction. Kevin J. Sullivan Boston and Richard Frye Dallas of Weil, Gotshal & Manges LLP acted as legal advisor to Real Capital Analytics, Inc.
MSCI Inc. (NYSE:MSCI) completed the acquisition of Real Capital Analytics, Inc. on September 13, 2021.