KFin Technologies, a Hyderabad-based fintech that provides investor and issuer solutions, has acquired Bengaluru-based IT product company Hexagram that specialises in fund accounting and reconciliation product development.
Hexagram will become a wholly owned subsidiary post the acquisition, KFin Technologies said in a release on Wednesday. It, however, did not share details of the financials or the human resources.
The acquisition will help expand fintech product offerings by adding fund accounting and reconciliation solutions to its platform, the company said. The acquisition will also strengthen its presence in South-East Asia due to Hexagram’s established base of BFSI marquee clients in the region.
“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 accounting has been a strong focus area and the acquisition will bring together some of the best minds in the space to create a global end to end platform for asset managers and intermediaries,” said Sreekanth Nadella, CEO of KFin Technologies.
