Digital Risk, an independent provider of mortgage risk analytics signed a definitive agreement to be acquired by MphasiS, a Hewlett Packard (HPQ) company. The transaction is set to close in late January.
MphasiS is a $1 billion global services and technology provider that delivers technology-based solutions worldwide. The company owns 29 offices spread across 14 countries, 10 of which are in the U.S.
Under the acquisition, Digital Risk hopes to develop a global footprint. It also will allow Digital Risk to push the growth of operations and give the company access to MphasiS’ technology.
"This acquisition is central to our strategy of offering specialized services in chosen segments. Digital Risk offers highly specialized services in the areas of risk and compliance specific to the mortgage industry. Their analytics platform combined with 1,500 mortgage specialists makes them unique and differentiated. I am delighted to have Digital Risk with their strong brand join our family," said Ganesh Ayyar, chief executive officer, MphasiS.
But Digital Risk has been on the rise for some time now. In the past year, the company has expanded to more than 1,500 employees, opened four operation centers and claimed the number 11 spot on the Inc. 500 list.
"The ability to leverage MphasiS’ facilities and expertise in both the U.S and internationally offers a remarkable advantage to our clients," said Jeffrey Taylor, co-founder and managing partner of Digital Risk. "Digital Risk will be the leading U.S. entity with the ability to provide risk, compliance, transaction management solutions to global portfolios – from the U.S., to the U.K, Canada and beyond."