MARKET MOVEMENT
SAS acquires Kamakura to propel risk technology innovation as financial sector braces for volatility
Global AI and analytics vendor SAS has acquired Honolulu-based Kamakura Corporation . Privately held Kamakura provides specialised software , data and consulting that helps financial organisations across the spectrum – banks , insurance companies , asset managers , pension funds and more – manage a variety of financial risks .
SAS ’ investment decision comes as post-pandemic optimism is shadowed by war , unyielding supply chain disruption , and the end of many pandemic-era financial and social safety-net programmes .
“ This acquisition is an extension of tremendous investments already made in SAS ’ cloud-ready risk management platform and integrated solutions ,” said Jim Goodnight , Co-founder and CEO , SAS .
“ It signals our intent to advance marketchanging 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 .”
In acquiring Kamakura , SAS aims to deliver an unparalleled suite of integrated risk solutions , particularly around asset liability management ( ALM ), and serve additional facets of the financial services industry .
“ The synergistic value in the melding of two highly complementary risk technology portfolios is undeniable to anyone familiar with SAS and Kamakura ; it ’ s like joining matching puzzle pieces ,” said Sidhartha Dash , Research Director at Chartis .
Jim Goodnight , Co-founder and CEO , SAS
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GBM acquires cybersecurity service provider Coordinates Middle East
Gulf Business Machines ( GBM ) has announced the acquisition of Coordinates Middle East majority shares , a regional managed detectionand response firm headquartered in Dubai .
With this investment , GBM will enhance its suite of cybersecurity offerings to include Cor .,
Coordinates ’ innovative technology-agnostic platform that enables integration , automation , and orchestration across detection , response , and remediation of any technology to achieve cyber resilience . The acquisition comes at a time when the cybersecurity market is undergoing significant shifts .
Amr Refaat , CEO , GBM , said : “ Our acquisition of Coordinates is a big step forward in strengthening our security services offering and skills to our customers and draws upon our legacy in the region of helping organisations enhance their cybersecurity capabilities . This is a significant milestone in the evolution of the managed detection and response market , and I am confident that this will support our customers to further grow , innovate , and address the security challenges faced due to rapid evolution in technology .”
Tarek Ghoul , Founder and CEO , Coordinates Middle East , said : “ We are excited to be joining Gulf Business Machines , whose over three decades of presence in the region has been characterised by strong partnerships with leading technology companies and game changers who have brought breakthrough solutions to the market .”
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