Indian software house i-flex has acquired Mantas Inc., a provider of regulatory compliance, loss prevention and revenue generation applications headquartered in the US.
Mantas was acquired in an all cash transaction of $122.6 Million. With the completion of all regulatory approvals, Mantas is now a wholly owned subsidiary of i-flex solutions.
S.Ramakrishnan, the CEO of Reveleus-i-flex’s Business Analytics division, will take additional charge as CEO of Mantas. Simon Moss, who has provided leadership as CEO of Mantas, will take on the role of Strategic Advisor to i-flex.
Reveleus and Mantas will create a single unified platform for governance, risk and compliance.
“The convergence of governance, risk and compliance, presents Mantas and Reveleus with a unique market opportunity to leverage our complementary strengths,” says S. Ramakrishnan. “I am very excited at the opportunity to address this critical customer need, and to establish a leadership position in this emerging space.”