Crisil, the Indian affiliate of Standard & Poor's, have acquired Chicago-headquartered knowledge procedure outsourcing company Pipal Research for $12.75 million from FirstSource Solutions. The rating agency proposed the ideas to enlarge its research business in China.

Pipal Research facilitates research services to the best corporates in Europe and North America. It was established in 2001 by previous McKinsey professional Manoj Jain who is now the chairman of the company. The corporation report $8.1 million returns for FY10.

Crisil MD Roopa Kudva further expressed that they have been into the high-end off shoring business for more than five years following the attainment of Irevna. Irevna currently is having a tough base amongst the insurance and finance companies while having six of the top ten banks as its clients. The exclusive takeaway for them is Pipal's tough occurrence in the corporate sector.

Ms kudva further added that KPO is right now a important aspect of their research and it is now accounting for 44% of their total revenue. She further added that Crisil was anticipating tough growth in the business of research and will shortly open a research facility in China to come across the necessities of its global clients.

The achievement has been in all a complete monetary contract with MAPE advisory as the lone advisor. Crisil's KPO division, Irevna, has been consistently ranked as the No. 1 investment KPO firm and financial services from the Datamonitor Black Book of Outsourcing.