US-based consumer credit reporting agency has acquired 51% stake in Bangalore-based data analyticsand business intelligence startup NettPositive for an undisclosed sum.
Equifax which organizes and assimilates data on more than 500 million consumers and 81 million businesses worldwide will use NettPositive’s operations and services to tap the India market.
“Their analytical expertise and business intelligence leadership will enable Equifax to continue to differentiate and deepen its footprint in the Indian market,” said Shahid Charania, Equifax Managing Director of Emerging Markets. This week, U.S. technology services provider Computer Sciences Corp sold its credit services unit to Equifax for $1 billion in cash.
Charania said integrating NettPositive’s business intelligence capabilities and analytical software solutions will enable Equifax to strengthen its in-country credit reporting capabilities, drive sustainable growth, and innovate into additional emerging markets.
NettPositive founded by IIM-Bangalore alumni Viraj Tyagi and Nitin Gupta in 2007 is engaged with over 25financial services, retail enterprises and telecom companies across developed and emerging markets.
“NettPositive has a proven engagement model specific to the emerging markets; this combined with Equifax’s data assets will be a robust proposition to customers in India and other emerging markets” said Viraj Tyagi, managing director of NettPositive.
Merger and acquisition activity is gaining strength in hot sectors like data analytics and cloud computing. This week Bangalore-based IT company MphasiS acquired, US-based data analytics company Digital Risk, for $200 million (about Rs 1100 crore) in an all-cash deal.
Healthcare firm Piramal Enterprises has acquired UK-based analytics firm Abacus International for an undisclosed sum.
News from Economic Times
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Bhasker is a Data Science evangelist and practitioner with proven record of thought leadership and incubating analytics practices for various organizations. With over 16 years of experience in the area of Business Analytics, he is well recognized as an expert within the industry. Earlier, Bhasker worked as Vice President at Goldman Sachs. He is B.Tech from Indian Institute of Technology, Varanasi and MBA from Indian Institute of Management, Lucknow.