MphasiS completes acquisition of Digital Risk

Had announced its plan to buy Digital Risk in an all cash deal for $175 million in Dec

 

Bangalore-based IT company MphasiS today said it has completed the acquisition of US-based Digital Risk LLC.

Earlier in December, MphasiS had announced its plan to buy Digital Risk in an all cash deal for $175 million with an additional earn-out component.

With the completion of the acquisition, Digital Risk LLC and its subsidiaries are now the wholly owned subsidiaries of the MphasiS.

Florida-based Digital Risk is one of the largest independent providers of solutions related to risk, compliance and transaction management to the US mortgage market.

Digital Risk will operate as a standalone business unit within MphasiS, retaining its brand identity.  

Avendus Capital acted as the exclusive financial advisor and Goodwin Procter LLP acted as legal advisor to MphasiS in this transaction.