SAS has acquired private-held Kamakura, which provides specialised software, data and consulting for financial organisations to manage financial risks.
The acquisition will position SAS to deliver a suite of integrated risk solutions, particularly around asset liability management (ALM), and serve additional facets of the financial services industry.
“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,” said Jim Goodnight, Co-founder and CEO of SAS (top).
Kamakura specifically chose SAS over other potential acquisition suitors based on alignment in the companies’ data-driven, research-oriented cultures and their mutual excellence in modeling and analytics, according to Don van Deventer, Chairman and CEO of Kamakura, who founded the company in 1990.
“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,” he said.