Data platform SAS acquires financial risk management firm Kamakura

Data analytics provider SAS has acquired financial risk management firm Kamakura Corporation for an undisclosed sum.

SAS snaps up Kamakura as FIs anticipate tough economic conditions and look to consolidate

The acquisition of the Honolulu-based Kamakura, which provides software, data and consulting that helps financial institutions manage financial risk, will enable SAS to expand its risk solutions portfolio and shore up its capabilities as the financial sector anticipates rocky economic conditions.

SAS co-founder and CEO Jim Goodnight says combining SAS’ technology with Kamakura’s risk analytics and credit models “will prove far greater than the sum of its parts”.

“This acquisition is an extension of tremendous investments already made in SAS’ cloud-ready risk management platform and integrated solutions,” Goodnight says.

“It signals our intent to advance market-changing risk solutions to solve the most pressing challenges our financial services customers face.”

The acquisition will deliver “an unparalleled suite of integrated risk solutions”, SAS says, particularly around asset liability management (ALM), and serve additional elements of the financial services industry.

The acquisition will also bring Kamakura’s credit risk data and analytics solutions into the SAS fold, along with Kamakura’s executives, leadership team, employees and contractors – “a noteworthy accumulation of specialised quantitative risk expertise that would take years to assemble in today’s market”, SAS claims.

Kamakura chair and CEO Don van Deventer says the new merger 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,” van Deventer adds.