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Billionaire’s Tech Firm to Buy BAE Fraud-Detection Arm NetReveal

   

   

Photographer: Balint Porneczi/Bloomberg

Technology billionaire Romesh Wadhwani’s artificial intelligence software company agreed to buy BAE Systems Plc’s financial crime detection business, NetReveal. 

Terms of the deal weren’t disclosed, but SymphonyAI Chief Executive Officer Sanjay Dhawan said in an interview that it was his company’s biggest to date and would help it sell more software to financial institutions. It’s expected to close this year, he said.