Moody’s Corp., the parent company of Moody’s Investors Service, has acquired Economy.com, an independent provider of economic research and data services, for US$27 million.

Moody’s says that the acquisition will deepen the firm’s analytical capabilities to broader areas of economic and demographic research, expand the range of products and services offered to institutional customers and introduce new customers to Moody’s. It will also provide Economy.com with access to Moody’s extensive client base, product marketing capabilities, and other resources needed to expand its business.

The deal was funded by cash on hand and closed today. The company will be renamed Moody’s Economy.com.

“Economy.com is widely recognized as an authoritative source of insightful economic analyses,” said Raymond McDaniel Jr., chairman and CEO of Moody’s. “This is a sound combination that creates good opportunities for growth. Moody’s global reach and scale will help accelerate the growth of Economy.com’s business, while Economy.com’s expertise extends Moody’s analytical capabilities.”