Narayan AmmachchiInformation management services firm Equifax has acquired the remaining 49% stake in NettPositive, further bolstering its expertise in data analytics. Financial details of the deal have not been disclosed, but analysts say the acquisition gives Equifax full access to NettPositive’s wide range of data analytic applications.
Founded in 2007, NettPositive provides analytics and business intelligence solutions to the financial services, insurance, retail and telecommunications industries in India, the Middle East and Africa.
Equifax had acquired a 51% stake in NettPositive in 2012 and now it has full control of the company.Following the closure of the deal, NettPositive will operate as a subsidiary or Equifax.
“NettPositive has proven to be a tremendous asset to our growing business,” said Shahid Charania, Managing Director of Emerging Markets at Equifax. “The combination of data and analytics will allow Equifax to give its customers a more complete, comprehensive picture of the consumers it is serving today.”
Equifax provides data analytics services to several financial services firms across the world and in recent years it has been strengthening its data analytics offerings.
Headquartered in Atlanta, Equifax operates in 19 countries and provides consumer, commercial and workforce information solutions. Reports say the company assimilates data on more than 600 million consumers and 81 million businesses worldwide.
Equifax Inc has offices in almost every Latin American country, including Ecuador, Brazil, Costa Rica, Peru, Paraguay, Argentina, Chile, El Salvador, Honduras and Uruguay.
Equifax appears determined to cash in on the growing demand for data analytics services. The International Data Corporation predicts that the market for big data will reach US$16.1 billion in 2014, growing six times faster than the overall IT market.
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