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Venture

Robert Trigaux

As Tampa, Hillsborough woo Orlando firm and its 600 jobs, it is bought by company in India

5

December

Wake up and good morning. A potential curve ball was tossed this week into the efforts by Tampa economic developers to woo up to 600 jobs from an Orlando area company called Digital Risk, a provider of mortgage debt analysis for financial institutions.

Digital Risk, based in Maitland, was bought by an Indian company called MphasiS, a Bangalore subsidiary of HP (as Hewlett Packard now calls itself). The deal is worth about $200 million in an all-cash deal that will close in early 2013. Read more on the deal here. And here's Digital Risk's press release on its sale.

Digital Risk recently hit the radar of the Tampa Bay business community when I reported in this Nov. 10 Tampa Bay Times column that Tampa and Hillsborough County were courting Digital Risk to bring up to 600 jobs paying an average $50,000 to the area. At the time, company spokeswoman Brandie Young said the company was looking to open a facility in the general downtown area of Tampa. Tampa and Hillsborough officials considered splitting $900,000 in incentives over four to eight years to Digital Risk. Read more here.

A subsequent Tampa Bay Times story on Nov. 15 details the unanimous approvals by the city and county officials to go ahead with the incentive package to Digital Risk.

peterkassabovceodigitalrisk.jpgIs the sale of Digital Risk going to affect its likely expansion to Tampa? That's not quite clear, but probably not, suggests Digital Risk CEO Peter Kassabov (left). It does mean the business community here will be welcoming a business of an overseas HP subsidiary rather than an independent company based down I-4 in Florida.

-- Robert Trigaux, Business Columnist, Tampa Bay Times

 

[Last modified: Wednesday, December 5, 2012 7:19am]

    

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