HP owned MphasiS has bought risk, compliance and transaction application provider Digital Risk for $175 million.

US based Digital Risk will provide MphasiS with increased market presence within the US and with access to more than 15 blue chip Digital Risk clients.

Digital Risk will continue to operate as a stand-alone business unit and retain company founding members under the acquisition.

MphasiS CEO Ganesh Ayyar, said of Digital Risk: "Their analytics platform combined with 1500 mortgage specialists makes them unique and differentiated" .