Saksoft buys UK-based Acuma for $ 17-m

 CHENNAI: Saksoft, a focused provider to the banking and financial services industry today announced that it had acquired 100 per cent stake in the Acuma Group, UK, for $17 million in cash.

In a release, Aditya Krishna, managing director of Saksoft, said, “The combined entity’s offerings will now be multi-vertical, multi-service, with customer facing domain experts and back-end technology/ service specialists.”

Saksoft and Acuma will now combine high-end consulting with a global service delivery model. Acuma’s current value proposition will be strengthened by Saksoft’s delivery organization (whose quality system is assessed at the highest level 5 of SEI CMMi model).

On behalf of Acuma, David Ince, CEO of Acuma, said, “We will now have a stronger ability to scale-up the business model through efficient use of onsite resources and leveraging on the access to offshore resources. We will be able to serve our market better with local knowledge and a global perspective.”

Acuma is UK’s largest provider of information value management solutions including intelligence, data warehousing, data integration, data quality improvement and testing services. Acuma also offers licensing and training in Business Objects.

The transaction is effective October 1, 2006, and was funded through internal accruals (20 per cent) and debt loans (70 per cent) from banks.

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