Mumbai: FINTECH firm Khatabook on Thursday announced the acquisition of the city-based Biz Analyst (BA), a software as a service (SaaS) company providing analytics solutions to small business, in a $10 million cash and equity deal.

Bengaluru-based Khatabook, which has raised $85 million from venture investors over its three year journey, was looking at internally developing the solutions offered by BA which are helpful data-driven decisions, and the acquisition will help it go faster to market, its co-founder and chief executive Ravish Naresh said.

Naresh said talks with BA had been on for over a year after the company saw the synergies and added that BA has 80,000 paid users as well. After the deal, financial details of which were not shared by the companies, BA will continue to be run independently, its founders will join Khatabook's leadership team and all the 70 staffers of BA will continue to work, Naresh said.