Infogain Corporation, a global business and IT consulting company, announced plans to acquire Blue Star InfoTech’s IT operations. Financial terms of the deal were not disclosed.
The deal will expand Infogain’s digital transformation offerings, particularly in the areas of cloud, mobility and analytics, adding capabilities in the field of travel/hospitality, high-tech and healthcare verticals. In addition, the deal will also strengthen and enhance the leadership position of Infogain in the areas of product engineering and test automation.
Blue Star Infotech Limited (BSIL) is a digital transformation consulting and services company, combines the best of engineering, creativity and technology to deliver the next generation of software solutions to its global customers.Blue Star Infotech is a listed company with its global headquarters in Mumbai, India, and with operations in USA, UK, Europe, Malaysia, and Singapore. It focused on delivering value-added and future‐proofed software solutions by leveraging emerging technologies and trends while preserving existing investments for gaining competitive advantages.
The newly combined entity will have revenue of over $150 million, about 4000 employees and eight delivery locations globally. The deal follows another important transaction- a $63 million investment by ChrysCapital.
Sanjay Kukreja, Managing Director at ChrysCapital, said in a statement, “BSIL’s IT assets are an ideal fit for Infogain with the vision of creating a leading new age digital services platform with combined capabilities in Cloud, mobility, SAP, analytics and product engineering. We expect the combined company to grow to half a billion dollars, through organic and inorganic growth, within the next five years.”
Kapil Nanda, President and Chief Executive Officer of Infogain, said in a statement: “This acquisition is another achievement toward our vision of transforming Infogain into a much larger IT services player delivering innovation and outstanding value to our clients.”
Under the agreement, Kapil Nanda, President and Chief Executive Officer of Infogain, will continue in this role while Sunil Bhatia will join Infogain’s management team as its CEO designate, and will assume his new responsibilities as CEO of the combined entity on July 1, 2016.
Talwar Thakore & Associates is serving as the legal counsel to BSIL while Avendus Capital Private Limited as the financial advisor. Wilson, Sonsini, Goodrich & Rosati is serving as the legal counsel to Infogain.
The deal, which is still subject to BSIL shareholder approval, regulatory approvals and other customary closing conditions, is expected to close towards the end of 2015.
US-based Infogain provides front-end, customer-facing technologies, processes and applications that lead to a more efficient and streamlined customer experience for enterprises in the US, Europe, the Middle East, Asia Pacific and India. Infogain specializes in areas such as software product engineering, digital service automation and mobility.
Image credit: OLR
Sunday, October 4, 2015
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