US-based consumer credit data agency Equifax has acquired a 51% controlling stake in Bangalore-headquartered NettPositive Business Analytics. Terms of the deal were not disclosed.
Founded in 2007, NettPositive offers a range of analytics and business intelligence solutions - such as credit scoring, segmentation, predictive modelling, and campaign management - to the financial services, insurance, retail and telecoms sectors. As well as its operations in Bangalore, the firm has offices in Dubai, and New Jersey.
Equifax - which collects data on more than 500 million consumers and 81 million businesses worldwide - says the transaction will help it create a 'multi-bureau solution' offering custom analytics to the Indian market.
NettPositive co-founder and CEO Viraj Tyagi (pictured) says that the combination of the two firms will provide a 'robust proposition' to customers in India.
Shahid Charaniam, Equifax Director of Emerging Markets, adds: 'Integrating NettPositive's unique business intelligence capabilities and proven analytical software solutions will enable Equifax to strengthen its in-country credit reporting capabilities, drive sustainable growth, and innovate into additional emerging markets.'
Web sites: www.equifax.com and www.nettpositive.com .
All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.