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India,United States : MILES SOFTWARE acquires BEANS & INTELLECT

July 2, 2014

Miles Software Private Limited acquired the business and the intellectual property of Beans & Intellect Financial Technology Private Limited in the area of Portfolio and Risk analytics. The financial details of the deal were not disclosed.

Beans & Intellect was founded by Anshuman Verma and S Dhilly Babu in 2006. It is a focused player in the financial services space that specializes in delivering quantitative portfolio risk analytics to financial institutions in India, Middle East and South East Asia.

The company specializes in treasury technology, derivatives, banking, risk management and broad capital market area.

Miles would integrate its portfolio risk and performance analytics across MoneyWare suite of solutions strengthening its wealth and asset management solutions. MoneyWare is the flagship product of Miles that includes Wealth management system, Security Based Lending, Portfolio Management System, Revenue and Incentive Management System, FundWare, Financial Planning, Family office, Compliance, Tradevizor and Custody.

Miles has Abu Dhabi Commercial Bank, DSP Merill Lynch, Axis Bank, Morgan Stanley, Edelweiss Financial Services, Goldman Sachs among its clients. Miles provides technology solutions to wealth and asset management firms across in Asia Pacific, Middle East, Africa and Europe.

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Source: TendersInfo (India)

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