SAS acquires Hawaiian risk management firm specializing in financial services

CARY- SAS has completed its first acquisition since January 2021, announcing today that the Cary-headquartered company has purchased the privately held Honolulu, Hawaii-based company, Kamakura Company.

The acquisition comes as SAS continues its “path toward IPO readiness,” a SAS spokesperson told WRAL TechWire in an interview.

SAS has staked its future on cloud-native analytics platform, SAS® Viya®, the spokesperson said, adding that the most recent acquisition “will fuel innovation in the portfolio of financial services solutions of SAS”.

Kamakura provides specialist software, data and advice to financial organizations including banks, insurance companies, etc., according to an SAS statement released today.

“This acquisition is an extension of the significant investments already made in SAS’s cloud-ready risk management platform and integrated solutions,” SAS co-founder and CEO Jim Goodnight said in a statement. the society. “This signals our intention to advance market-changing risk solutions to solve the most pressing challenges facing our financial services clients.”

The company’s statement noted that the acquisition comes as the U.S. economy and the global economy face turmoil with rising inflation and the possibility of a recession emerging as “clouds.” dark”. And companies are integrating this vision of stormy times ahead into the way they think and manage risk, SAS noted.

This is part of the rationale for the acquisition, the company said. “From time to time, SAS will make a strategic acquisition to augment our organic R&D efforts,” the company spokesperson said. “In this case, the acquisition of Kamakura will give SAS access to new facets of the financial services industry, including asset managers, hedge funds and central banks.”

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SAS was not the only suitor

According to the company’s statement, Kamakura had other interested parties regarding the possibility of an acquisition.

But the company chose SAS. Kamakura Founder, Chairman and CEO Don van Deventer said in the statement that the two corporate cultures will “produce synergies that fuel customer and market innovation.”

SAS will retain van Deventer and Research Director Robert Jarrow, as well as Kamakura COO Martin Zorn, according to the statement, to “help ease the transition and lead the development of future ALM offerings.” and integrated balance sheets and other advances in risk solutions.”

“We anticipate that the resulting strength of SAS technology, coupled with Kamakura’s risk and credit analysis models, will prove to be far greater than the sum of its parts,” Goodnight said in the statement.

The terms of the contract are not disclosed.

Employees could be a big beneficiary of an IPO by SAS via stock options