The Hindu : Business : i-flex acquires Capco product

Online edition of India's National Newspaper
Wednesday, Jun 22, 2005

Business

Business

i-flex acquires Capco product

Staff Reporter

To service six of the existing clients of ORTOS in Europe and the U.S.

BANGALORE: i-flex, an IT solution provider to the global financial services industry, on Tuesday acquired the operational risk product of Capco, a global financial services consultant, to help financial institutions better and enhance its risk management portfolio.

The Chief Operating Officer of the i-flex, N. R. K. Raman, told mediapersons that the company signed an agreement with Capco to leverage joint competencies instead of their collective strengths in operational risk, through leadership, consulting and product development.

Under the agreement, i-flex would acquire the intellectual property rights of Capco's operational risk tool suite (ORTOS). It would merge the modular tool with its reveleus risk analytics to create a complete enterprise risk management suite, besides offering to sell and implement ORTOS independently. Capco would serve as its reseller and distributor through its global sales network. i-flex considers the area of risk management strategically important. In recent years, it has built an advanced risk suite in reveleus.

Majority of sales for the operational risk management suite would come from the Asia Pacific region where the market was expanding, said Vijay Sharma, Senior Vice-President of i-flex Consulting and System Integration

i-flex had over 270 engineers working on risk management products and it would service six of the existing clients of ORTOS in Europe and the U.S. The IT risk management market was estimated to touch $8 billion by 2008, of which software services accounted for about $ 2.6 billion, Mr. Sharma said.

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