On Tuesday, Fitch Group announced an agreement to acquire a majority stake in dv01, a data and analytics provider to the structured finance market.

According to a news release, dv01 will operate as a subsidiary of Fitch Solutions, one of the divisions of Fitch Group.

While financial terms were not disclosed, the company said the acquisition is expected to close by the end of third quarter.

The provider of financial information services with operations in more than 30 countries is comprised of Fitch Ratings, a leader in credit ratings and research, and Fitch Solutions, a provider of data, research and analytics.

With dual headquarters in London and New York, Fitch Group is owned by Hearst.

Founded in 2014, dv01 established itself as a technological innovator in structured finance by offering both loan-level data and fully integrated analytics on its cloud-based platform. Over the years, the company has provided value to clients by ensuring data integrity, streamlining the reporting workflow, and producing market research across various asset classes.

Fitch highlighted that dv01 continues to see strong demand for its solutions, and benefits from successful client relationships with leading financial institutions. Clients leverage dv01’s loan-level data across the investment workflow — from market due diligence to securitization to performance analysis — and make use of offerings such as Loan Data Agent for Securitizations, Portfolio Surveillance, Market Surveillance, Tape Cracker, and Credit Facility Management.

The transaction is the latest in a series of acquisitions by Fitch Group as it expands its offerings. Previous acquisitions include Fulcrum Financial Data in 2018, CreditSights in 2021 and GeoQuant earlier this year.

Fitch Solutions president Ted Niedermayer said: “We are very pleased to be acquiring dv01, a best-in-class data and analytics provider to the structured finance industry. The acquisition underscores Fitch Solutions’ commitment to empowering our clients with critical insights and intelligence to identify opportunities and manage risks.”

Perry Rahbar, who is chief executive officer of dv01, added: “This acquisition marks a milestone for dv01 and signals a new era for the company. Fitch’s resources will strengthen our position as a leading data intelligence company in structured finance, allowing us to deepen our footprint in current asset classes, develop new products and ultimately expand into new markets.”

Jefferies is serving as financial advisor to dv01 and Gunderson Dettmer is serving as legal counsel to dv01.