US firm buys stake in Bangalore IT firm

Last Updated: Thu, Dec 06, 2012 14:10 hrs

Bangalore, Dec 6 (IANS) US-based information solutions provider Equifax has acquired controlling stake in Bangalore-based NettPositive firm, which specialises in analytics and business intelligence solutions, for an undisclosed sum.

"The acquisition will enable us to offer high-velocity analytics and business intelligence capabilities to our diverse customers across financial services, insurance, retail and telecom sectors," Equifax managing director (emerging markets) Shahid Charania said Thursday in a statement from Atlanta (US).

Both companies, however, did not divulge acquisition details, including the controlling stake percentage.

By integrating the Bangalore firm's domain expertise, Equifax will strengthen its in-country credit reporting capabilities, drive sustainable growth and foray into other emerging markets.

"The combined strength will position us as a leading provider of differentiated data and advanced analytics and deepen our footprint in the Indian market," Equifax vice-president John Hartman noted.

The partners also plan to leverage their tie-up to build a multi-bureau solution and custom analytics for the Indian market.

"Equifax's capabilities and large customer base will drive business growth and deepen relationships with our customers," NettPositive co-founder Nitin Gupta said.

As a global leader in consumer, commercial and workforce information solutions, Equifax provides businesses and consumers with insight and information they can trust.

With data on about 500 million consumers and 81 million businesses worldwide, the company uses advanced analytics and proprietary technology to create and deliver customised insights that enrich performance of businesses and lives of consumers.

NettPositive is engaged with 25 financial services and retail enterprises across developed and emerging economies.

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