CARE Acquires Majority Stake in Kalypto Risk Technologies

Mumbai, India - 22 November 2011

Credit Analysis and Research Limited (“CARE”) has acquired 75.13% stake in Kalypto Risk Technologies Private Limited (“KRTL”), a company providing risk management software solutions with a focus on banking and financial services domain addressing the areas of enterprise risk management. The share sale and purchase and shareholders agreement in relation to this acquisition was signed in Mumbai between CARE and KRTL on 22nd November 2011.

Speaking on the occasion, Shri O.V. Bundellu, Chairman of CARE said, “CARE is diversifying its revenue streams by enhancing its product offerings and building up alternative revenue streams. We believe that KRTL, which currently has running product installations, would help to reduce the time to market new product offerings for CARE and give additional revenue streams”.

KRTL is engaged in developing specialized risk management solutions addressing the area of credit and operation risk for financial institutions, banks and insurance companies. The credit risk product serves as a foundation to meet evolving regulatory risk requirements in the backdrop of Basel II recommendations and for integrating the bank’s entire credit risk information. The operational risk product facilitates banks in assessing, identifying, measuring, monitoring, controlling and reporting of losses resulting from inadequate or failed internal processes, people or systems

“We believe that this acquisition will add value to our line of business, and this venture will further deepen our own understanding and experience in bank loan ratings. CARE presently does not have a presence in the risk model domain and envisages filling this gap in its product offering through this acquisition”, added Shri D.R. Dogra, Managing Director & CEO, CARE.

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