Verisk Analytics, Inc., to Acquire Fintellix
(Thomson Reuters ONE) -
Verisk Analytics, Inc., to Acquire Fintellix
Acquisition will extend Verisk's expertise in development of products and data
solutions designed to meet the regulatory compliance needs of financial
institutions in multiple geographies
JERSEY CITY, N.J., February 27, 2017 - Verisk Analytics, Inc. (Nasdaq:VRSK), a
leading data analytics provider, has signed an agreement to acquire Fintellix, a
Bangalore-based data solutions company specializing in the development of data
management platforms and regulatory reporting solutions for financial
institutions. Fintellix will become part of Argus, a Verisk Analytics business.
"Companies across the globe are looking to integrate their enterprisewide data
capabilities while addressing the broadening regulatory requirements of the
markets in which they operate," said Nana Banerjee, group president at Verisk
Analytics. "The acquisition of Fintellix positions Verisk and Argus to expand
our data hosting and regulatory platforms and better address the increasingly
complex needs of our clients."
"The solutions offered by Fintellix enable financial institutions to leverage
their current investments in core operating systems and infrastructure in a
robust, agile, and scaled manner," said Vivek Subramanyam, chief executive
officer of Fintellix. "The entire Fintellix team is excited about becoming part
of the Verisk family."
"Fintellix and its advanced data management platform, along with its regulatory
reporting expertise, will be a valuable addition to both Argus and Verisk
Analytics," added Scott Stephenson, chairman, president, and chief executive
officer of Verisk Analytics.
The transaction is subject to the completion of customary closing conditions.
About Fintellix
Founded in 2006, Fintellix enables agility in risk and regulatory reporting
practices in enterprise banks and lowered cost of compliance. Fintellix provides
analytics, risk, and compliance solutions for the banking sector. It offers a
banking data management infrastructure for data management and processing,
content management and administration, and content and collaboration. The
company also offers products such as Fintellix Compliance, which provides
regulatory reporting, Fintellix Risk, and Fintellix Analytics. In addition, the
company provides information management services, such as strategy consulting,
architecture consulting, design and development, and managed services. For more
information, please visit www.fintellix.com.
About Argus
Argus is a one-of-a-kind leading provider of information, scoring solutions, and
advisory services to financial institutions across the globe. Our client base
ranges from financial institutions and their regulators to various companies
across the media industry and beyond. We maximize the value of data by
transforming it into insightful information and analysis that assist our clients
in understanding their market contribution, managing and mitigating risk
(default, fraud, funding, and compliance), and capitalizing on their financial
objectives. Argus, a Verisk Analytics business (Nasdaq:VRSK), is headquartered
in White Plains, New York, with additional offices in San Francisco, São Paulo,
Sydney, Melbourne, and London. For more information, please visit
www.argusinformation.com.
About Verisk Analytics
Verisk Analytics (Nasdaq:VRSK) is a leading data analytics provider serving
customers in insurance, natural resources, and financial services. Using
advanced technologies to collect and analyze billions of records, Verisk
Analytics draws on unique data assets and deep domain expertise to provide
first-to-market innovations that are integrated into customer workflows. Verisk
offers predictive analytics and decision support solutions to customers in
rating, underwriting, claims, catastrophe and weather risk, global risk
analytics, natural resources intelligence, economic forecasting, and many other
fields. Around the world, Verisk Analytics helps customers protect people,
property, and financial assets.
Headquartered in Jersey City, N.J., Verisk Analytics operates in 27 countries
and is a member of Standard & Poor's S&P 500(®) Index. In 2016, Forbes magazine
named Verisk Analytics to its World's Most Innovative Companies list and to its
America's Best Large Employers list. Verisk is one of only 14 companies to
appear on both lists. For more information, please visit www.verisk.com.
Contacts:
Investor Relations
David Cohen
Director, Investor Relations and Strategic Finance
Verisk Analytics, Inc.
201-469-2174
david.e.cohen(at)verisk.com
Media
Rich Tauberman
MWW Group (for Verisk Analytics)
202-600-4546
rtauberman(at)mww.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Verisk Analytics Inc. via GlobeNewswire
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