Digital Risk, the New York-based provider of mortgage risk, compliance and transaction management solutions, has entered into a definitive agreement to be acquired by global services provider MphasiS, a Hewlett Packard company headquartered in Bangalore, India, for $175 million.
‘The need for risk management in the mortgage market is not only a U.S. issue, but also a global necessity,’ says Peter Kassabov, Digital Risk's chairman and CEO. ‘We are thrilled to combine our talent and expertise with MphasiS to set a global standard for making mortgages safe.’
The transaction is expected to close late in January 2013, subject to the satisfaction of regulatory requirements and customary closing conditions.