The transaction is expected to close in the second quarter of 2021. Alantra LLC served as the financial adviser to Risk Focus.
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“Adding Risk Focus’ core competence in digital transformation services to Ness’ core DNA in product engineering strengthens Ness’ position as a full lifecycle digital engineering firm offering digital advisory through scaled engineering services,” Ranjit Tinaikar, chief executive officer at Ness Digital Engineering, said in a statement on Wednesday. “With this acquisition, Ness also continues to execute on its strategy to build strong industry expertise in financial services and bolster our competencies in cloud and data services.”
Headquartered in New York, Risk Focus is an Advanced AWS Partner with financial services, migration and DevOps competencies, as well as Premier Confluent Systems Integrator, making it one of the top 5 AWS partners in the financial services industry.
“Joining Ness allows Risk Focus to better serve our clients by adding scale-out engineering capabilities to the Risk Focus expertise in digital transformation,” Vassil Avramov, founder and CEO of Risk Focus, said in the statement. “I look forward to helping drive our continued success as well as deepening our technology excellence in cloud, data and AI in my new role as CTO of Ness.”
Ness is a full lifecycle digital engineering firm offering digital advisory through scaled engineering services and is a portfolio company of The Rohatyn Group (TRG).
Source : economictimes.indiatimes.com