KFintech acquires Hexagram; to expand into fund accounting, reconciliation solutions for asset managers

KFin Technologies Private Limited, provider of investor and issuer solutions, today announced its acquisition of Hexagram Fintech Private Limited (“Hexagram”), an IT 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 Technologies shall further expand its fintech product offerings by adding fund accounting and reconciliation solutions to its platform, it said in a statement. This acquisition will also strengthen KFin Technologies’s presence in South-East Asia due to Hexagram’s established base of BFSI marquee clients in the region. It will add to KFin Technologies’s competencies by opening up the asset side of the investment management industry and allow the firm to provide holistic solutions to its clients, drive expansion into alternatives segment and globalize its offerings, the statement added.

Sreekanth Nadella, CEO, KFin Technologies, said, “Fund accounting has been a strong focus area for us and the acquisition will bring together 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 objective to be a SaaS leader in asset management space.”

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 KFin Technologies’s integrated offerings and reach customers in new domains and geographies.”

Ravi Seshadri, Co-Founder and Executive Director, Hexagram added, “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.

Published on: Wednesday, February 09, 2022, 04:40 PM IST