i-flex completes acquisition of Mantas
Financial solutions provider, i-flex Solutions Ltd on Tuesday said it has completed the acquisition of US-based anti-money laundering and compliance software vendor Mantas Inc for over Rs 561 crore (122.6 million dollars).
By PTI |
MUMBAI: Financial solutions provider, i-flex Solutions Ltd on Tuesday said it has completed the acquisition of US-based anti-money laundering and compliance software vendor Mantas Inc for over Rs 561 crore (122.6 million dollars).
Under a definitive agreement announced on August 14, Mantas was acquired in an all cash transaction of 122.6 million dollars and following the completion of all regulatory approvals, the US firm is now a wholly-owned subsidiary of the company.
The CEO of Reveleus (a business of i-flex solutions) S Ramakrishnan, would take additional charge as CEO of Mantas, i-flex said.
On the other hand, Mantas CEO Simon Moss would take on the role of Strategic Advisor to i-flex to focus on key projects and provide guidance and support for a smooth transition, it added.
i-flex said in a communique on the Bombay Stock Exchange that Reveleus and Mantas would bring together two industry leading solutions into a single unified platform for governance, risk and compliance.
Under a definitive agreement announced on August 14, Mantas was acquired in an all cash transaction of 122.6 million dollars and following the completion of all regulatory approvals, the US firm is now a wholly-owned subsidiary of the company.
The CEO of Reveleus (a business of i-flex solutions) S Ramakrishnan, would take additional charge as CEO of Mantas, i-flex said.
On the other hand, Mantas CEO Simon Moss would take on the role of Strategic Advisor to i-flex to focus on key projects and provide guidance and support for a smooth transition, it added.
i-flex said in a communique on the Bombay Stock Exchange that Reveleus and Mantas would bring together two industry leading solutions into a single unified platform for governance, risk and compliance.
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