ICRA to acquire Fintellix for USD 26m

ICRA has announced its acquisition of Fintellix India Private Limited for a consideration of USD 26 million, subject to adjustments. This acquisition, approved by ICRA's Board, will see ICRA acquire 100% of Fintellix's shareholding, positioning Fintellix as a wholly-owned subsidiary. Fintellix, incorporated in March 2006, specializes in risk, supervisory, and data analytics solutions offered on its proprietary platform. ICRA's management believes this acquisition underscores their commitment to becoming a leading risk technology player and will enable them to better address emerging market needs, amplified by ICRA's scale, credibility, and understanding of financial risk. Fintellix reported a turnover of INR 76.1 crore for FY24. The acquisition is expected to close within three months, pending customary conditions and regulatory approvals. This strategic move strengthens ICRA Group's portfolio by adding risk reporting capabilities and aligns with ICRA's existing solutions, including credit risk software and Early Warning Systems.