Equifax Inc, global information solutions provider, has announced its intentions to acquire the remaining minority interest in analytics company NettPositive, pending government and regulatory approvals and satisfaction of standard closing conditions.
“Equifax has held a majority interest in the Bangalore-based company since 2012 and with this transaction, NettPositive will become an operating entity of Equifax India. NettPositive provides analytics and business intelligence solutions to the financial services, insurance, retail and telecommunications industries in India, the Middle East and Africa,” Equifax said in a statement.
“NettPositive has proven to be a tremendous asset to our growing business in India, and we are excited to take this next step to deepen our commitment to the marketplace. India has one of the largest economies in the world, and as a global information solutions provider, we are constantly looking for better ways to meet our customers’ needs. The combination of data and analytics will allow Equifax India to give its customers a more complete, comprehensive picture of the consumers it is serving today – as well as the ones it wishes to embrace in the future,” said Shahid Charania, Managing Director of Emerging Markets, Equifax.
Charania went on to say, “We have been greatly encouraged by the momentum we’ve seen so far with Equifax India – from signing 125 financial institution customers to our credit bureau, to surpassing 400 million records – and we look forward to welcoming the NettPositive team into our expansive network of talented Equifax employees.”
Source: The Hindu Business Line