In the same quarter, however, ISS showed a 1.4% drop in revenues to $29.6 million. On the other hand, MSCI reported a 14.6% increase in net income to $55.3 million as well as a 4.4% increase in Ebitda to $112.8 million.
MSCI bought RiskMetrics in 2010 in a cash-and-stock deal valuing the company at $21.75 per share or $1.55 billion. ISS, known as Institutional Shareholder Services, had been bought by RiskMetrics from Warburg Pincus and Hermes Investment Management in 2006 for $553 million.
After MSCI bought RiskMetrics it moved the governance business into its own division.
New York.-based MSCI trades on the New York Stock Exchange under the ticker symbol MSCI. Shares closed down 1.07% at $40.77 Thursday, giving the company a market capitalization of about $4.9 billion.MSCI spokesman Edings Thibault said the company wasn't commenting further. -- Written by Tatjana Kulkarni in New York
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV