Hyderabad-based fintech, Kefin Technologies, which provides investor and issuer solutions, has acquired Hexagram, a Bengaluru-based IT products company that specializes in fund accounting and reconciliation product development.
Following the acquisition, Hexagram will become a wholly owned subsidiary, Keffin Technologies said in a release on Wednesday. However, it did not share details of financial or human resources.
The company said the acquisition will help expand its fintech product offering by adding fund accounting and reconciliation solutions. The acquisition will also strengthen its presence in Southeast Asia due to Hexagram’s established base of BFSI marquee clients in the region.
“As a scaled backbone for asset managers and advisors across asset classes, we at Keffin Technologies are focused on expanding our portfolio of products and services. Shrikant Nadella, CEO, Keffin Technologies, said, “Fund accounting has been a strong focus area and the acquisition will bring together some of the best minds in the space to create a global end-to-end platform for asset managers and intermediaries.
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