Tuesday, June 21 2005 14:15 Hrs (IST) - World Time -

Bangalore: IT services and product firm i-flex solutions today (Jun 21, 2005) said it would acquire ORTOS, the operational risk tool suite from Capco, the consultant provider for financial services industry.

The acquisition includes the intellectual property of the tool that would strengthen i-flex's Reveleus Basel II solution, i-flex COO N R K Raman told reporters in Bangalore.

Both the firms declined to reveal the cost of the deal citing a confidentiality agreement.

i-flex plans to bundle the ORTOS tool in Reveleus for customers in Asia Pacific and West Asia and later in Europe and the US, he said.

Capco will shift about 10 people who are in the core team of ORTOS to i-flex, besides about six clients, Capco India Country Manager Padma Parthasarathy said.

i-flex will continue to sell ORTOS independently and Capco will serve as its reseller and distributor through its global sales network.

Raman said the market for operational risks solutions is expected to grow to $2.6 billion by 2008.

He said Capco and i-flex will collaborate to offer consulting in operational risk strategy, product selection, implementation and process advisory services.