Glodyne acquires Broadllyne Technologies

MUMBAI, INDIA: Glodyne Technoserve Limited, a provider IT services, today announced the acquisition of Broadllyne Technologies Ltd, a Managed Application Services provider in the education sector, headquartered in Mumbai.

The acquisition broadens Glodyne’s portfolio of Managed Technology Services and adds another dimension of expertise in the sunrise education industry, said a press release.

Broadllyne’s acquisition would add new key relationships in the education sector across India. Broadllyne has a strong base of more than 173 clients subscribing to its services and a strong execution pipeline in India.

Broadllyne has an execution pipeline of Rs. 159 crore to be rolled out in the next 18-24 months across 1603 schools/colleges, the release added. The company’s current operating margins stand at 27 per cent.

The acquisition would be made through a scheme of amalgamation to merge Broadllyne with Glodyne Technoserve Limited.

“The Broadllyne acquisition is a strategic initiative to penetrate the rapidly growing education sector with end to end managed services offerings. The government spend on education is around 3.7 per cent of GDP and private spent is in excess of Rs. 50 billion,” said Anand Sarnaaik, chairman and MD, Glodyne Technoserve.

He added that there is huge untapped opportunity for managed IT services in both the government and private education space.

Shantanu Rooj, managing director, Broadllyne said the company would compliment Glodyne’s IMS capabilities in the education space with its managed application services and would create a winning proposition for the education sector.

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