KFin Applied sciences introduced its acquisition of Hexagram Fintech Personal Restricted (“Hexagram”), an IT product firm specializing in fund accounting and reconciliation product improvement. Submit this acquisition, Hexagram will turn into an entirely owned subsidiary of KFin Applied sciences.
With this acquisition, KFin Applied sciences shall additional develop its fintech product choices by including fund accounting and reconciliation options to its platform. This acquisition shall additionally strengthen KFin Applied sciences’s presence in South-East Asia as a result of Hexagram’s established base of BFSI marquee purchasers within the area. The acquisition will add to KFin Applied sciences’s competencies by opening up the asset facet of the funding administration trade and permit KFin Applied sciences to supply holistic options to its purchasers, drive enlargement into alternate options phase and globalize its choices.
Talking on the event, Sreekanth Nadella, Chief Government Officer of KFin Applied sciences, mentioned, “As a scaled spine for asset managers and advisors throughout asset courses, we at KFin Applied sciences are focussed on increasing our portfolio of services. Fund accounting has been a robust focus space for us and the acquisition will deliver collectively among the greatest minds within the house to create a really international finish to finish platform for asset managers and intermediaries. We imagine the adjacencies, innate synergies, area experience and a compelling worth proposition to the purchasers would assist us obtain our said goal to be a SaaS chief in asset administration house.”
MS Chandrasekhar, Co-Founder and Government Chairman, Hexagram mentioned, “This acquisition is very synergistic and shall allow Hexagram to speed up product innovation, present end-to-end answer as a part of KFin Applied sciences’s built-in choices and attain prospects in new domains and geographies.”
Ravi Seshadri, Co-Founder and Government Director, Hexagram added, “This acquisition positions Hexagram as a number one Monetary Providers accomplice with a full-suite choices. It is a distinctive alternative to mix Hexagram’s product and expertise expertise with answer and repair deliveries competencies of KFin Applied sciences, enabling us to supply an end-to-end built-in expertise to our prospects.”
HDFC Financial institution was an unique advisor to KFin Applied sciences for this transaction.
