MUMBAI, INDIA: Infotech Enterprises Ltd has signed a definitive agreement to acquire Softential for $20 million in an all cash deal.
Srinivas Tipirneni, president, Softential said: "We are excited to become part of the Infotech family. Over the years Softential has built an impeccable record of service delivery, a long term client base and a differentiated offering. This alliance creates a scalable platform for enhancing strategic value and provides an opportunity for cross-pollinating offerings across the combined customer base.
"In Infotech, Softential has found a partner that is strategically aligned to its business and whose global presence and financial strength will be of immense value. My team looks forward to working with our new colleagues and jointly realising our shared growth ambition."
The acquisition strengthens Infotech's telecommunications business unit by adding 140 skilled global resources. By leveraging their combined and complementary strengths, Infotech and Softential will offer a scaled, cost-effective and globally delivered managed service proposition for customers to more efficiently plan, build and operate their Network Operations Centres and Data Centres.
The resulting synergies will enable Infotech to broaden its service portfolio for existing customers while supporting expansion into new geographic markets.
John Renard, president and Business Unit Head, Telecom and Utilities, Infotech, said: "Softential is a great business and I am delighted that we will be able to work closely with SriniTipirneniand his team. With its strong technical and domain expertise combined with proven global delivery capability, Softential will fit very well in the Infotech family. I strongly believe that the combined entity will be very attractive to both companies' existing customers."