i-flex solutions to acquire Mantas for US$ 122.6 million   21st August 2006 i-flex solutions is to acquire Mantas, a leading provider of anti-money laundering (AML) and compliance software and services in an all cash transaction at a price of USD 122.6 Million. I-flex says that the combination of its solutions and Mantas offerings will create a market-leading risk and compliance solution suite. The Mantas Behaviour Detection Platform is a solution for detecting risk, enhancing customer relationships and addressing regulatory requirements in the anti-money laundering, trading and broker compliance areas. Mantas customers include top global financial institutions like ABN Amro, Barclays, Bear Stearns, Citigroup and Merrill Lynch. The acquisition is set against the growing risk and compliance marketplace which is estimated to grow to over $20 Billion by 2008 . i-flex solutions has established strong credentials in risk and compliance, with its Reveleus solution suite enjoying rapid adoption by global Tier 1 organizations such as Citigroup, Lloyds TSB, Wachovia and Wells Fargo. “Through our acquisition of Mantas we gain access to an industry-leading behaviour detection and compliance solution, coupled with deep financial services industry expertise,” said Rajesh Hukku, Chairman & Managing Director, i-flex solutions. “Mantas' growing client list reads like a ‘who's who' of Tier 1 global financial institutions, and Mantas' ability to continue to deepen their relationships with top-tier clients is testimony to the exceptional value their clients receive from Mantas solutions. Together we are poised to become a leading player in the risk and compliance marketplace.”
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