Press Release

CRISIL to acquire 100% stake in Pragmatix

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 domains.

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.