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SemanticSpace buys Prolifics for $40-mn

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CIOL Bureau
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HYDERABAD, INDIA: Software solutions firm SemanticSpace has acquired 100 per cent of Prolifics, a systems integrator specializing in IBM technologies for $40 million in an all cash deal with an upfront payment of $26 million and the rest in the form of earn-out over two years.

Prolifics complements SemanticSpace’s offering with its high-value services focused around the IBM brand — making the combined entity a global organization with a strong and balanced presence across the US, Europe and Asia Pacific.

Both the firms, along with Arsin Corporation will operate as SemanticSpace Group, creating a new overall organization of 1500 employees with more than $100 million in revenue on a proforma basis.

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