KFin Technologies Private Limited, a leading provider of investor and issuer solutions, stated that it has acquired Hexagram Fintech Private Limited (“Hexagram”), an IT product firm, in order to grow into Fund Accounting and Reconciliation solutions for asset managers. Hexagram, situated in Bengaluru, will become a completely owned subsidiary of KFin Technologies following this purchase. KFin Technologies will enhance its fintech product offerings by adding Fund accounting and reconciliation solutions to its platform as a result of this purchase. Due to Hexagram’s existing network of BFSI marquee clients in the area, this purchase will also expand KFin Technologies’ foothold in South-East Asia.
The purchase will broaden KFin Technologies’ capabilities by allowing it to enter the asset side of the investment management market, allowing it to give holistic solutions to customers, expand quickly into the alternative segment, and globalise its products.
Speaking on the occasion, Sreekanth Nadella, Chief Executive Officer of KFin Technologies, said, “As a hyper-scale backbone for asset managers and advisors across asset classes, we at KFin Technologies are continually expanding our portfolio of products and services. Fund accounting has been a strong focus area for us and the acquisition will bring together some of the best minds in the space to create a truly global end to end platform for asset managers and intermediaries”. MS Chandrasekhar, Co-Founder and Executive Chairman, Hexagram said, “This acquisition is highly synergistic and shall enable Hexagram to accelerate product innovation, provide an end-to-end solution as part of KFin Technologies’s integrated offerings and reach customers in new domains and geographies.”
Hexagram Co-Founder and Executive Director Ravi Seshadri said, “This is a once-in-a-lifetime opportunity to combine Hexagram’s product and technology skills with KFin Technologies’ solutioning and service delivery competencies, allowing us to provide an end-to-end integrated experience to our customers.”
