The Hindu Business Line : i-flex to buy Capco tool

Mr N.R.K. Raman, Chief Operating Officer, i-flex Solutions, and Ms Padma Parthasarathy, Country Manager, Capco, at a press conference in Bangalore on Tuesday. — G.R.N. Somashekar

Bangalore , June 21

I-FLEX Solutions Ltd said on Tuesday that it is acquiring the operational risk product of Capco, a global financial services consultancy and IT solutions provider, for an undisclosed sum in an all-cash deal.

Mr N. R. K. Raman, Chief Operating Officer, i-flex, said in Bangalore that the acquisition of Capco's Operational Risk Tool Suite (ORTOS) would help the company enhance its risk management portfolio. i-flex will service six of the existing clients of ORTOS in Europe and the US, including Dresdner Bank and ABN Amro, he added.

i-flex plans to merge the modular tool with its Reveleus Risk Analytics product to create a complete enterprise risk management suite, besides offering to sell and implement ORTOS independently. Capco will serve as i-flex's reseller and distributor through its global sales network.

i-flex expects the majority of sales for the operational risk management suite to come from the Asia-Pacific region, said the company's Senior Vice-President, Mr Vijay Sharma. Along with ORTOS, i-flex has also acquired a team of 10 engineers for developing the software.

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