Fitch Risk Management to acquire NetRisk and OpVantage

New York-based Fitch Risk Management, part of rating agency Fitch, plans to acquire NetRisk and its subsidiary, OpVantage, both Connecticut-based risk management companies. The amount of the purchase has not been disclosed.

The acquisition, which both parties expect to be finalised this month, was described as “an excellent strategic fit” by OpVantage president and chief executive Daniel Mudge. “This gives us access to a wealth of information and research and more resources to expand our products,” said Mudge.

OpVantage was set up in April 2002 when professional services firm PricewaterhouseCoopers and NetRisk merged their op risk services, resulting in OpVar, an operational loss database. OpVar version 4.0 maps

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