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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.
