SAS, a global AI and analytics leader, has acquired Kamakura, a company that provides specialised software, data and consulting for financial services firms.
Kamakura currently offers two key solutions – the former being its Risk Manager product. Risk Manager is a fully-integrated risk management system that offers transaction-level valuation, simulation, cash flow analysis and stress testing.
Its Risk Information Services product is a SaaS offering that is a subscription data service which provides credit risk data and analytics. This product helps firms and countries forecast credit spreads and calculate default probabilities based on proprietary models.
SAS claims the acquisition will bring these solutions’ capabilities into the SAS fold, alongside the executives, leadership team, employees and contractors of Kamakura.
According to SAS, in acquiring Kamakura, SAS aims to deliver an ‘unparrelled’ suite of integrated risk solutions, particularly around asset liability management and serve additional facets of the financial services industry.
Kamakura CEO Don van Deventer said, “Joining the SAS family represents an exciting new chapter in Kamakura’s 32-year history,” said Van Deventer. “In combination, our like cultures will produce synergies that fuel customer and marketplace innovation. More concretely, adding SAS’ cloud-native Viya technology, risk domain capabilities and intuitive, user-friendly interfaces to Kamakura’s IP will spawn a top-tier, market-changing ALM offering.”
Jim Goodnight – CEO and co-founder of SAS – added, “This acquisition is an extension of tremendous investments already made in SAS’ cloud-ready risk management platform and integrated solutions. It signals our intent to advance market-changing risk solutions to solve the most pressing challenges our financial services customers face. We foresee that the resulting strength of SAS technology, paired with Kamakura’s risk analytics and credit models, will prove far greater than the sum of its parts.”
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