After owning Regulatory DataCorp Inc. for a little more than three years, Vista Equity Partners is selling the risk and compliance data and services company to Moody’s Corp. (MCO) for $700 million, the company said Thursday, Jan. 23.

Based in King of Prussia, Pa., Regulatory DataCorp helps banks, financial institutions and other clients deter money laundering and check clients identities, among other offerings. The service screens customers against watch lists, media reports and other sources to meet compliance requirements, prevent criminal infiltration of organizations and reduce fraud. Regulatory DataCorp has incorporated artificial intelligence into its platform to accelerate screening.

Moody’s is paying about 13 times projected 2020 sales and said Regulatory DataCorp will complement its business information unit Bureau van Dijk, which it acquired for €3 billion ($3.3 billion) in 2017.

Vista purchased Regulatory DataCorp from Bain Capital Ventures LLC and other investors in August 2016. The acquisition came through the Vista Foundation Fund III, a $2.75 billion fund that seeks investments in software and tech companies valued between $100 million and $500 million, according to FactSet Research Systems Inc.

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