TMCnet News
India,United States : SYMPHONY TELECA acquires ADITI TECHNOLOGIES for Rs 450-480 crore [TendersInfo (India)](TendersInfo (India) Via Acquire Media NewsEdge) Symphony Teleca Corp. is acquiring Aditi Technologies for about Rs 450-480 crore. The deal is pending approval by FIPB, it would mark one of the biggest deals in the sector. Zensar Technologies was also in the fray for acquiring the firm, however synergies and complementing strengths led Symphony to be the winner. Symphony is part of the $2.5 billion Symphony Technology Group led by Romesh Wadhwani, provides outsourced product development, data analytics and mobility services to enterprises. The Symphony Technology Group (STG), has a current portfolio of 12 technology firms and operates like a holding company for technology ventures but has other limited partners. Wadhwani holds between 40% and 90% in the portfolio companies. Romesh is planning to take 3 of his portfolio companies public, one of which includes Symphony Teleca which has revenues of about $300 million. The company offers information technology outsourcing services to enterprises and Independent Software Vendors which includes Cloud Computing technologies such as Windows Azure, Amazon Web Services, Salesforce and Rackspace. (c) 2014 Euclid Infotech Pvt. Ltd. Provided by Syndigate.info, an Albawaba.com company |