Verisk To Expand Foothold In India With Fintellix Buyout
Zacks Investment Research | Feb 28, 2017 07:19AM ET
Leading data analytics provider, Verisk Analytics, Inc. (NASDAQ:VRSK) recently inked an agreement to acquire Bangalore-based data solutions company, Fintellix. The financials of the agreement remain undisclosed.
Founded in 2006, Fintellix specializes in the development of data management platforms and regulatory reporting solutions for financial institutions. The company offers analytics, risk and compliance solutions for the banking sector.
Per the agreement, Fintellix will become part of Verisk’s Argus business. Argus is a leading provider of information, scoring solutions, and advisory services to financial institutions worldwide. Fintellix’s advanced data management platform, along with its regulatory reporting expertise, will be a valuable addition to both Argus and Verisk Analytics. The collaboration will help the company offer better services and highly advanced solutions to its customers. In addition, this deal will also enable Verisk expand its foothold across India as well.
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