Saksoft acquires Acuma Group, UK for US$ 17 million

Saksoft Ltd on October 03,2006 has announced that it had acquired 100% stake in the Acuma Group, UK for USD 17 million in cash. Acuma is UK’s largest provider of information value management solutions including business intelligence, data warehousing, data integration, data quality improvement and testing services. Acuma also offers licensing and training services in Business Objects.

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

Explaining the rationale for the acquisition, Aditya Krishna, Managing Director of the Company said that "The combined entity’s offerings will now be multi-vertical, multi-service with customer facing domain experts and back-end technology/service specialists".

Acuma had revenues of over USD 20 million for the calendar year December 2005 and the Company had revenues of Rs 50 crores for the year ending March 2006. The combined, entity should have revenues of Rs 200 crores with 500 people and diversified operations in Asia, Europe and USA.

The transaction is effective October 1, 2006 and was funded through internal accruals and debt.

Source : Equity Bulls

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