Nomura Research Institute Ltd. said Thursday that it has acquired Anshin Software Pvt. Ltd, an IT consulting and software development company based in India.
The Tokyo-based NRI said that Anshin has supported the development and maintenance of its I-STAR/GV product, a back-office solution for securities businesses. Anshin will be renamed Nomura Research Institute Financial Technologies India Pvt. Ltd.
"NRI and Anshin have a longstanding relationship and this is the natural next step in our partnership," Shin Kusunoki, NRI's corporate senior vice president and asset management systems division manager, said in a news release. "This acquisition truly complements our existing solutions. It is important that we continue to expand our business through multiple channels and enhance our services for clients across the globe."
This is NRI's second major investment in India within the last year. In October the company said that it would establish a subsidiary in India to develop a consulting business and that it would invest in a local research company, Market Xcel Data Matrix Pvt. Ltd.
NRI ranked number nine on the FinTech 100 list for 2011, the American Banker/Bank Technology News/IDC ranking of the largest technology providers to the U.S. financial services industry. The company offers consulting, outsourcing, IT solutions and IT platforms in addition to compliance consulting. Clients include Japanese asset management firms and the Japanese subsidiaries of JPMorgan Chase & Co. and Goldman Sachs.