M&A M&A
Credit rating co. Icra to acquire risk solutions provider Fintellix for $26-M
Source Fintellix (opens in a new tab)Business Standard (opens in a new tab)BSE Announcement (opens in a new tab)
Gurugram-based, publicly listed credit rating agency Icra Ltd is to acquire 100% shareholding in Bengaluru-based Fintellix India Pvt Ltd , a provider of risk and reporting solutions to global financial institutions, for USD 26 million by way of secondary purchase.The acquisition is expected to strengthen Icra Group's portfolio of credit risk assessment and monitoring tools by adding risk reporting capabilities to its existing solutions.Founded in 2006, Fintellix specializes in risk, supervisory, and data analytics solutions on its proprietary data platform.