Moody's Acquires Omega Performance, Enhances Online Credit Training Platform
Moody’s Corporation (NYSE:MCO) announced today that it has entered a definitive agreement to acquire Omega Performance, a leading provider of online credit training.
Founded in 1976 and based in Arlington, Virginia, Omega Performance is a business unit of TwentyEighty Inc. It offers a wide range of online credit training courses to clients worldwide and serves more than 300 customers, ranging from large global banks to local lending institutions.
“Omega Performance is widely recognized for its robust credit training capabilities, which complement the industry-leading learning solutions offered by Moody’s Analytics,” said Ari Lehavi, Executive Director, Learning Solutions at Moody’s Analytics. “Adding Omega’s offerings reinforces Moody’s Analytics as a market standard in credit proficiency for financial institutions worldwide spanning the full spectrum of consumer, small business and corporate lending.”
Omega’s rich repository of lending case studies will significantly enhance the highly-regarded Moody’s Analytics online Credit Coach learning platform, which empowers financial professionals to make better lending decisions by providing a learning experience that is customized to each user’s specific analytical needs. Using sophisticated algorithms that track respondents’ performance as they study real-life business scenarios, Credit Coach guides each learner through targeted coursework designed to remediate indicated areas of weakness. With the addition of Omega’s case studies and content, Credit Coach will provide an even broader range of credit and risk scenarios facing today’s lending and investment professionals.
Both Moody’s clients and Omega’s clients will greatly benefit from the synergies of the combined organization. By using a consistent framework across the institution, banks can systematically and efficiently train their staff, certify their proficiency, and benchmark the performance of both individuals and business units.
“This acquisition is an important development for financial institutions in search of a modern and comprehensive learning platform with a globally recognized credit certification to help elevate lending and risk management practices to compete and navigate more effectively in a rapidly evolving marketplace. The combined capabilities of Moody’s Analytics and Omega Performance offers a best-in-class, cost-effective solution to these challenges,” said Lehavi.
The acquisition is expected to close within 30 days and is not expected to have a material impact on Moody’s 2018 financial results.
For further information about Moody’s Analytics eLearning solutions, visit www.moodysanalytics.com/elearning-courses.
ABOUT MOODY'S CORPORATION
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 Corporation (NYSE: MCO) 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. The corporation, which reported revenue of $4.2 billion in 2017, employs approximately 12,300 people worldwide and maintains a presence in 42 countries. Further information is available at www.moodys.com.
TwentyEighty is a portfolio of some of the most respected learning, development, and performance improvement brands in the industry, including Miller Heiman Group, VitalSmarts, AchieveForum, Strategy Execution & Omega Performance. www.twentyeighty.com
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995
Certain statements contained in this release are forward-looking statements and are based on future expectations, plans and prospects for Moody’s business and operations that involve a number of risks and uncertainties. The forward-looking statements in this release are made as of the date hereof, and Moody’s disclaims any duty to supplement, update or revise such statements on a going-forward basis, whether as a result of subsequent developments, changed expectations or otherwise. In connection with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Moody’s is identifying certain factors that could cause actual results to differ, perhaps materially, from those indicated by these forward-looking statements. Those factors, risks and uncertainties include, but are not limited to, credit market disruptions or economic slowdowns, which could affect the volume of debt and other securities issued in domestic and/or global capital markets; other matters that could affect the volume of debt and other securities issued in domestic and/or global capital markets, including regulation, credit quality concerns, changes in interest rates and other volatility in the financial markets such as that due to the U.K.’s referendum vote whereby the U.K. citizens voted to withdraw from the EU; the level of merger and acquisition activity in the U.S. and abroad; the uncertain effectiveness and possible collateral consequences of U.S. and foreign government actions affecting credit markets, international trade and economic policy; concerns in the marketplace affecting our credibility or otherwise affecting market perceptions of the integrity or utility of independent credit agency ratings; the introduction of competing products or technologies by other companies; pricing pressure from competitors and/or customers; the level of success of new product development and global expansion; the impact of regulation as an NRSRO, the potential for new U.S., state and local legislation and regulations, including provisions in the Financial Reform Act and regulations resulting from that Act; the potential for increased competition and regulation in the EU and other foreign jurisdictions; exposure to litigation related to our rating opinions, as well as any other litigation, government and regulatory proceedings, investigations and inquires to which the Company may be subject from time to time; provisions in the Financial Reform Act legislation modifying the pleading standards, and EU regulations modifying the liability standards, applicable to credit rating agencies in a manner adverse to credit rating agencies; provisions of EU regulations imposing additional procedural and substantive requirements on the pricing of services and the expansion of supervisory remit to include non-EU ratings used for regulatory purposes; the possible loss of key employees; failures or malfunctions of our operations and infrastructure; any vulnerabilities to cyber threats or other cybersecurity concerns; the outcome of any review by controlling tax authorities of the Company’s global tax planning initiatives; exposure to potential criminal sanctions or civil remedies if the Company fails to comply with foreign and U.S. laws and regulations that are applicable in the jurisdictions in which the Company operates, including data protection and privacy laws, sanctions laws, anti-corruption laws, and local laws prohibiting corrupt payments to government officials; the impact of mergers, acquisitions or other business combinations and the ability of the Company to successfully integrate acquired businesses; currency and foreign exchange volatility; the level of future cash flows; the levels of capital investments; and a decline in the demand for credit risk management tools by financial institutions. Other factors, risks and uncertainties relating to our acquisition of Bureau van Dijk could cause our actual results to differ, perhaps materially, from those indicated by these forward-looking statements, including risks relating to the integration of Bureau van Dijk’s operations, products and employees into Moody’s and the possibility that anticipated synergies and other benefits of the acquisition will not be realized in the amounts anticipated or will not be realized within the expected timeframe; risks that the acquisition could have an adverse effect on the business of Bureau van Dijk or its prospects, including, without limitation, on relationships with vendors, suppliers or customers; claims made, from time to time, by vendors, suppliers or customers; changes in the European or global marketplaces that have an adverse effect on the business of Bureau van Dijk. These factors, risks and uncertainties as well as other risks and uncertainties that could cause Moody’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements are described in greater detail under “Risk Factors” in Part I, Item 1A of the Company’s annual report on Form 10-K for the year ended December 31, 2017, and in other filings made by the Company from time to time with the SEC or in materials incorporated herein or therein. Stockholders and investors are cautioned that the occurrence of any of these factors, risks and uncertainties may cause the Company’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements, which could have a material and adverse effect on the Company’s business, results of operations and financial condition. New factors may emerge from time to time, and it is not possible for the Company to predict new factors, nor can the Company assess the potential effect of any new factors on it.
Stephen Maire, 1 212-553-7424
Global Head of Investor Relations and Communications
Michael Adler, 1 212-553-4667
Senior Vice President
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Interxion Announces Direct Connectivity to Google Cloud Platform across Its European Footprint14.8.2018 08:00 | Pressemelding
INTERXION HOLDING NV (NYSE: INXN), a leading provider of carrier and cloud-neutral colocation data centre services in Europe, today announced that dedicated access to Google Cloud Platform (GCP) is now available across its European footprint through Cloud Connect, Interxion’s multi-cloud interconnection platform. With Google Cloud deploying its Cloud Interconnect points of presence (PoPs) in Interxion’s Paris, Marseille, Frankfurt and Stockholm data centres, customers can now directly connect to Google Cloud Platform from these locations. Moreover, because Interxion is a partner of Google Cloud’s newly launched Partner Interconnect service, customers can also connect from any of Interxion’s data centres across Europe via Cloud Connect. Customers using this service benefit from fully redundant, instant access to GCP from multiple metropolitan areas, ensuring a 99.99% availability SLA without the complexity and costs of having to build a networking solution themselves. “We are seeing str
Lumileds Wins Jury Verdict of Liability for Intellectual Property Theft Against Elec-Tech International Co., Ltd., Donglei Wang, and Gangyi Chen13.8.2018 22:45 | Pressemelding
On August 10, 2018, a jury of six men and six women rendered a verdict in favor of one the world’s leading LED companies, Lumileds LLC, based in San Jose, finding that a Chinese competitor stole trade secrets related to Lumileds core technology for making high power LEDs used in flash phones, automotive headlights, and general illumination. The case, Lumileds LLC v. Elec-Tech International Co., Ltd., Donglei “Tony” Wang, and Gangyi Chen, Superior Court of the State of California, County of Santa Clara, found the defendants liable for damages in intellectual property theft. The jury awarded Lumileds $66 million. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180813005694/en/ Mark Adams, Chief Executive Officer at Lumileds Inc. (Photo: Business Wire) The jury concluded that ETI, Wang and Chen misappropriated Lumileds trade secrets, took them to China, and used them to develop ETI’s LED technology. The award of $66 million is t
Growing Turkish Lira Crisis Drives Investors to Seek Safe Haven in Gold13.8.2018 13:34 | Pressemelding
The currency crisis engulfing the Turkish Lira is likely to intensify this week as the contagion becomes more widespread around the world. The volatility on the currency exchanges has led investors to pursue the stability offered by safe havens such as gold, which saw a hike in value by 0.4 per cent coinciding with the crash of the Lira. 1 Tom Coughlin, CEO of Kinesis, the bullion backed blockchain monetary system, comments: “The sharp rise in the price of gold seen in the past few days off the back of the Turkish Lira crisis, reflects a rising trend amongst investors wanting to protect their investments, from volatility caused by political instability. This is supplemented by the growing trend of decentralisation which has driven the underlying price of gold up 2% since the start of the year.” Investment in blockchain has doubled in the past year, with 82 per cent of ICO investors citing decentralisation as the main driver behind their investment. 2 Despite this trend, blockchain inve
Seoul Semiconductor’s Innovative SunLike LEDs Earn Industry Recognition in 2018 IES Progress Report13.8.2018 13:00 | Pressemelding
Seoul Semiconductor (KOSDAQ 046890), a leading global innovator of LED products and technology, has announced that its SunLike Series natural spectrum LEDs, powered by TRI-R, were recognized in the 2018 Illumination Engineering Society (IES) Progress Report, presented on August 10, 2018 at the IES Annual Conference in Boston, MA. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180813005229/en/ Seoul Semiconductor’s SunLike was recognized in the 2018 IES Progress Report (Graphic: Business Wire) As the recognized technical and educational authority on illumination, IES annually announces significant new advancements in lighting products, research, publications, and design tools in its IES Progress Report. Acceptance is based on an impartial judging process used by the committee to evaluate each submission on its uniqueness, innovation and significance to the lighting industry. SunLike Series natural spectrum LEDs are the world’
Skunkworks Surfing Co. Co-Founders Appointed to be Endowment for Clean Oceans Judges13.8.2018 11:07 | Pressemelding
The Endowment for Clean Oceans (ECO) announced that Skunkworks Surfing Co. Co-Founders CEO Chris and Ricky Martin have been selected and they have accepted to be ECO judges. Chris will serve on the Science and Tech Committee, and Ricky on the Entrepreneur Committee. An entrepreneur’s survival depends on their ability to execute their technical vision. “They have the sort of innovative entrepreneur and plastic materials technical expertise we are looking for to be ECO judges,” said Daniel Perrin, Founder and CEO of ECO. The role of the Entrepreneur Committee is to judge each entry to ECO’s two contests for scalability and executability. The Scientific and Technical Committee evaluate each entry from that perspective. “We are extremely excited to be part of this important and historic work,” said the Martin brothers. ECO’s contests are simply to provide a $1 million prize for an actionable and scalable plan to remove the micro and macro pieces of plastic from the ocean, and for the $5 mi
GN Hearing Announces Unprecedented Layers of Sound™ and the World’s Most Advanced Rechargeable Hearing Aid Solution13.8.2018 11:00 | Pressemelding
GN Hearing today unveils the world’s first Premium-Plus hearing aid: ReSound LiNX Quattro™, designed for people who want the very best that technology has to offer and desire a brilliant sound experience with great speech intelligibility even in noisy situations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180813005254/en/ Unprecedented Layers of Sound™ and the World’s Most Advanced Rechargeable Hearing Aid Solution (Photo: Business Wire) ReSound LiNX Quattro™ offers a new category of hearing solution and expands GN Hearing’s product portfolio, which already includes the premium ReSound LiNX 3D™ product family. Powered by new technology, including a new chip platform, ReSound LiNX Quattro™ offers a combination of unmatched sound quality and rechargeability, while further expanding GN Hearing’s leadership within 2.4 GHz connectivity and remote fine-tuning: Sound quality: A brilliant sound experience, with clearer, fuller a