India, June 24 -- An index and analytics provider, MSCI Inc. (MSCI), announced on Wednesday that it has bought First Street to add property-level climate risk data to its investment tools.
The transaction consideration includes a cash payment of $120 million at closing, with potential additional payments during the first two years if certain revenue targets are met, MSCI said.
First Street provides physics-based models that assess climate hazards for individual buildings. The models use building characteristics, infrastructure and site-level data to estimate current and future physical risk, asset damage and business interruption.
MSCI said the deal will let clients measure physical climate risk at any geographic coordinate across more t...