It was reported today on the Business Wire that that certain assets of Weiss Ratings, Inc. ("Ratings") a wholly owned subsidiary of Weiss Group, Inc. have been acquired by TheStreet.com a leading provider of financial commentary, analysis and news.
Ratings is an 18 year old company that provides independent financial evaluations in industries where it believes investors are at risk. Ratings tracks the risk-adjusted performance of more than 16,000 mutual funds and more than 6,000 stocks. In addition, Ratings uses proprietary quantitative computer models to evaluate the financial strength of more than 13,000 financial institutions, including and of interest to structured settlement brokers, structured settlement payment recipients and attorneys, life, health and annuity insurers; property and casualty insurers; HMOs; Blue Cross Blue Shield plans; banks and savings and loans.
According to the report "TheStreet.com believes the Ratings acquisition is consistent with two aspects of its previously disclosed strategic plan: completion of what it believes are accretive acquisitions, while diversifying both the sources of revenue and content to emphasize the fast growing advertising category and to diminish reliance on any one product or service"
It was unclear from the report which "certain assets of Weiss Ratings, Inc." are being referrred to as being acquired. At the time of this posting there was no release on the Weiss website. More details to follow as the story unfolds.
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