Global investor and issuer solutions provider KFin Technologies said it is acquiring a 100% stake in Hyderabad-based WebileApps (India), an enterprise product development and design company, for an undisclosed amount.
As part of the development, WebileApps will become a wholly-owned subsidiary of KFintech and will integrate KFintech’s deep domain knowledge with WebileApps’s technical expertise, the company said.
WebileApps (India) specialises in artificial intelligence, machine learning and mobility solutions for the banking and financial services industry.
According to the company’s statement, KFintech and WebileApps have worked together for six years, the acquisition offers several advantages, including accelerated product development in SaaS and PaaS models, brings in additional cloud, artificial intelligence and design expertise that will differentiate KFintech and help explore untapped segments and geographies.
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