CRISIL to acquire data analytics firm Pragmatix for Rs 56 cr

Rating agency CRISIL will acquire 100 per cent stake in data analytics firm Pragmatix Services Private Limited for Rs 56 crore.

It has signed a definitive agreement to acquire Pragmatix, set up seven years ago. The data analytics firm has built and deployed solutions across the risk, sales, and finance domains in India, West Asia and North America. It has 110 employees as on date, CRISIL said in a statement.

The acquisition is subject to regulatory approvals and other customary closing conditions. The parties expect to close the transaction during the first quarter of 2018. Pragmatix’s founders and their team will join CRISIL after the completion of the transaction.