MphasiS (BSE: 526299) has purchased Digital Risk LLC, a company that provides risk, compliance and transaction management services to the U.S. mortgage industry, for $175 million.
The buyer, Hewlett Packard unit, provides application, infrastructure and business process outsourcing services.
The price could also include a $27 million earn out, pushing the total to $202 million.
Portico Capital Securities LLC acted as financial adviser to Digital Risk for the transaction. Katz Teller Brant & Hild acted as Digital Risk’s legal adviser. Avendus Capital acted as MphasiS’s financial adviser, while Goodwin Procter LLP was legal adviser.