S&P sells MMS International to management

S&P sells MMS International to management

Standard & Poor's has sold its MMS International subsidiary, a supplier of fixed income and foreign exchange commentary and analysis, to management for an undisclosed sum.

The operation has been sold to a newly-formed company MMS Group, established by a combination of institutional funds advised by Alchemy Partners, the Halifax Bank of Scotland, plus senior MMS managers, led by president Mickey Arora.

"Under the new framework we will be in a better position to grow our real time market commentary and analysis franchise," says Arora. "With the wealth of experience the new owners bring in similar ventures, we will be able to explore other opportunities in the market."

Headquartered in London, MMS International supplies analysis to over 2000 financial institutions globally. Analysis is delivered through a number of channels including direct delivery to company Internet and intranet sites and via third-party platforms including Bloomberg, Moneyline Telerate, Radianz, Reuters and Standard & Poor’s ComStock.

Leo O’Neill, president of Standard & Poor’s, says the sale of the unit fits in with the company's strategy of directing resources to businesses where S&P has significant market presence and greater opportunities for growth.

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