Equifax today announced that it intends to acquire the remaining minority interest in analytics company NettPositive, pending government and regulatory approvals and satisfaction of standard closing conditions. Equifax has held a majority interest in the Bangalore-based company since 2012 and with this transaction,NettPositive will become an operating entity of Equifax India. NettPositive provides analytics and business intelligence solutions to the financial services, insurance, retail and telecommunications industries in India, the Middle East and Africa.
“NettPositive has proven to be a tremendous asset to our growing business in India, and we are excited to take this next step to deepen our commitment to the marketplace,” said Shahid Charania, Managing Director of Emerging Markets, Equifax. “India has one of the largest economies in the world, and as a global information solutions provider, we are constantly looking for better ways to meet our customers’ needs. The combination of data and analytics will allow Equifax India to give its customers a more complete, comprehensive picture of the consumers it is serving today – as well as the ones it wishes to embrace in the future.”
Charania went on to say, “We have been greatly encouraged by the momentum we’ve seen so far with Equifax India – from signing 125 financial institution customers to our credit bureau, to surpassing 400 million records – and we look forward to welcoming the NettPositive team into our expansive network of talented Equifax employees.”
The Founders of NettPositive, VirajTyagi and Nitin Gupta said, “NettPositive has had a relationship with Equifax India for many years, and we are fully confident that the business we built will continue to thrive and prosper under their excellent leadership. We welcome this offer and are excited to see the capabilities of the two companies come together to do great things under Equifax India.”
NettPositive was founded in 2007 and has operations in Bangalore, Mumbai and Dubai. Equifax India will look to leverage NettPositive’s full suite of analytics capabilities and solutions in an even larger capacity worldwide.