Global Economics
Economy.com sells itself to Moody's to go global
(FORTUNE Small Business) - Economy.com founders Paul Getman and Mark Zandi are in the business of making sharp financial forecasts. And when their West Chester, Pa., firm projected its own international growth, they spotted a problem: Going global would be expensive and slow. So the duo recently sold their 16-year-old firm to Moody's for $27 million. "When Moody's came knocking on our door, we realized they have offices all over tarnation," says Getman, CEO of the $11-million-a-year firm. According to Fred Zirkle, CEO of IndustryPro, a Utah M&A advisory firm, that's a good deal for Getman and Zandi (who has written for FSB). A typical price would be around the same as annual revenues, says Zirkle, suggesting that Moody's foresees quick growth. No word on who provided that forecast. |
|