June 30, 2014 - Miles Software Solutions (P) Ltd. a leading provider of technology solutions for the global Wealth and Asset Management industry today announced the acquisition of the business and the Intellectual Property of the privately held Beans & Intellect Financial Technology Private Limited, a leading provider of technology and consulting services in the area of Portfolio and Risk analytics.
Beans & Intellect is a niche and focused player in the financial services space specializing in delivering quantitative portfolio risk analytics to financial institutions in India, Middle East and South East Asia. The company owns IP in the highly demanding area of portfolio risk and performance analytics.
"One of the key trends driving the growth in the analytics space is the increased need to understand, measure, manage, and report risk. It is now inevitable for portfolio managers to ascertain Portfolio risk under any given economic scenario. This move will further enhance our product value proposition and will serve as a differentiated value to our customers. We will soon be launching the integrated solution with our existing platform and the same will be available as a service on the cloud" adds Mr. Milan Ganatra, CEO, Miles Software.
"Over a period of six years Beans has built credibility with alliance partners and customers. We believe the market is poised for high growth in the areas such as portfolio risk and analytics. With our established strengths in these areas, we were looking for an aggressive and large organization which would provide us the synergy, help us with investments and carry us to the big league. We are happy to have joined hands with Miles Software" adds, Anshuman Verma, CEO, Beans & Intellect.