CRISIL, a S&P company and India's foremost provider of ratings, data, research,
analytics and solutions has entered into a definitive agreement to acquire 100% of the
equity shares of Pragmatix Services Private Limited (‘Pragmatix’).
Founded by banking professionals, Pragmatix is a data analytics company focused on
delivering cutting edge solutions in the ‘data to intelligence’ lifecycle to the Banking,
Financial Services & Insurance (BFSI) vertical. Its big data capabilities and advanced
data models provide descriptive, prescriptive and predictive analytics delivered through
its proprietary Enterprise Data Analytics Platform. In its short history spanning seven
years, Pragmatix has successfully built and deployed solutions across the risk, sales,
and finance domains in India, Middle East and North America. Pragmatix’s marquee
clients include customers in retail and commercial banks, financial institutions, asset
management companies, insurance and telecom companies.
We believe that Pragmatix’s unique value proposition for its clients will be further
enhanced when combined with CRISIL’s global reach and complementarity in the
solutions we offer across the Business Intelligence, Analytics & Risk Management
The acquisition is subject to regulatory approvals and other customary closing
conditions. The parties expect to close the transaction during the first quarter of 2018.
Pragmatix’s founders and their team will join CRISIL on completion of the transaction.
The acquisition will strengthen CRISIL’s position as an agile, innovative and global
analytics company. It will enable CRISIL to leverage Pragmatix’s technology platform
and deep domain expertise to enhance its business intelligence, analytics and risk
management offerings for financial sector clients in India and globally. Pragmatix’s
solutions will accelerate acquiring retail and commercial banking customers and
diversify the strong presence CRISIL enjoys with global financial institutions. Pragmatix
will leverage CRISIL’s client relationships, global sales footprint and delivery capability.