MphasiS Limited through its US subsidiary has announced a definitive agreement to acquire Digital Risk LLC, provider of Risk Compliance and Transaction Management Solutions to the US mortgage market.
The acquisition is an all cash deal for $175 Mn with an additional earn-out component.
The acquisition will help MpahsiS to strengthen its leadership position in the US Mortgage Service market.
@Avendus acted as the exclusive financial advisor and Goodwin Procter LLP acted as legal advisor to MphasiS. Portico Capital Securities LLC served as financial advisor to Digital Risk and Katz, Teller, Brant & Hild acted as legal advisor to Digital Risk.
MphasiS' purchase of Digital Risk will offer an exit route for PE firm Century Capital, which owned about 40% in the company.