KFintech announces acquisition of Hexagram Fintech

By Leandra Monteiro

KFin Technologies Private Limited (KFintech), a provider of investor and issuer solutions, announced its acquisition of Hexagram Fintech Private Limited, an IT product company specializing in fund accounting and reconciliation product development. Post this acquisition, Hexagram will become a wholly owned subsidiary of KFin Technologies.

With this acquisition, KFintech shall further expand its fintech product offerings by adding fund accounting and reconciliation solutions to its platform. This acquisition shall also strengthen KFin Technologies’s presence in South-East Asia due to Hexagram’s established base of BFSI marquee clients in the region. The acquisition will add to KFin Technologies’s competencies by opening up the asset side of the investment management industry and allow KFin Technologies to provide holistic solutions to its clients, drive expansion into alternatives segment and globalize its offerings.

Speaking on the occasion, Sreekanth Nadella, Chief Executive Officer of KFin Technologies said, “As a scaled backbone for asset managers and advisors across asset classes, we at KFin Technologies are focussed on 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. We believe the adjacencies, innate synergies, domain expertise and a compelling value proposition to the clients would help us achieve our stated objective to be a SaaS leader in asset management space.”

MS Chandrasekhar, Co-Founder and Executive Chairman, Hexagram said, “This acquisition is highly synergistic and shall enable Hexagram to accelerate product innovation, provide end-to-end solution as part of KFin Technologies’s integrated offerings and reach customers in new domains and geographies.”

Ravi Seshadri, Co-Founder and Executive Director, Hexagram added, “This acquisition positions Hexagram as a leading Financial Services partner with a full-suite offerings. This is a unique opportunity to blend Hexagram’s product and technology skills with solution and service deliveries competencies of KFin Technologies, enabling us to provide an end-to-end integrated experience to our customers.”