KFintech acquires Hexagramto expand into Fund Accounting and Reconciliation solutions for asset managers
Hyderabad, February 10, 2022:KFin Technologies Private Limited (“KFin Technologies”), a leading provider of investor and issuersolutions, today announced its acquisition of Hexagram Fintech Private Limited (“Hexagram”), anIT product company specializing in fund accounting and reconciliation product development. Post this acquisition, Hexagram will become a wholly owned subsidiary of KFin Technologies.
With this acquisition,KFin Technologiesshall further expand its fintech product offerings by adding fund accountingand reconciliation solutions to its platform. This acquisition shall also strengthen KFinTechnologies’spresence in South-East Asia due to Hexagram’s established base of BFSI marquee clients in the region. The acquisition will add to KFinTechnologies’s competencies by opening up the asset side of the investment management industry and allow KFin Technologies to provide holistic solutions to its clients, drive expansion into alternatives segment andglobalize its offerings.
Speaking on the occasion, Mr. Sreekanth Nadella, Chief Executive Officer of KFin Technologies, said,“As a scaled backbone for asset managers and advisors across asset classes, we at KFin Technologies are focussed on expanding our portfolio of products and services. Fund accountinghas been a strong focus area for us and the acquisition will bringtogether some of the best minds in the space to create a truly global end to end platform for asset managers and intermediaries. We believe the adjacencies,innate synergies, domain expertise and a compelling value proposition to the clients would help us achieve our stated objectiveto be a SaaS leader in asset management space.”
Mr.MS Chandrasekhar, Co-Founder and Executive Chairman, Hexagram said, “This acquisition is highly synergistic and shall enable Hexagram to accelerate product innovation, provide end-to-end solution as part of KFinTechnologies’sintegrated offerings and reach customers in new domains and geographies.”
Mr. Ravi Seshadri, Co-Founder and Executive Director, Hexagram added, “This acquisition positions Hexagram as a leading Financial Services partner with a full-suite offerings. This is a unique opportunity to blend Hexagram’s product and technology skills with solution and service deliveries competencies of KFin Technologies, enabling us to provide an end-to-end integrated experience to our customers.”
HDFC Bank was an exclusive advisor to KFin Technologies for this transaction.