MphasiS to buy Digital Risk for $175 mn
Press Trust of India : New Delhi, Tue Dec 04 2012, 01:40 hrs
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It firm MphasiS today said it will acquire US-based Digital Risk for $175 million (about Rs 960 crore) in all-cash deal, a move that will help it attain leadership position in the trillion dollar US mortgage services market.
Florida-based Digital Risk is one of the largest independent providers of solutions related to risk, compliance and transaction management to the US mortgage market.
"We have worked out an earn-out plan spread over 30 months. All put together, the deal will be marginally in excess of $200 million," MphasiS CEO Ganesh Ayyar said.
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