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Symphony Teleca to Acquire Aditi Technologies
martinwolf Transaction Analysis
- Transaction Size: $75 – 80 million*
- Symphony Teleca, a US-based technology services company, is acquiring software product and services company Aditi Technologies for Rs 450 crore – Rs 480 crore ($75-80 million), according to media reports.
- The transaction, which is one of the largest deals in the sector this year, has yet to be approved by India’s Foreign Investment Promotion Board.
- Aditi Technologies earned revenue last year of $70-$75 million (Rs 426 crore – Rs 450 crore), and provides software and services to major clients including Deutsche Bank, Ford, and Universal Studios.
Indian Firms are In Demand
- Cloud Capabilities Generate Strong Interest: This transaction demonstrates the continued interest in companies with cloud capabilities as the shift to cloud based solutions persists.
- Consolidation Remains Major Force: Smaller Microsoft IT service providers continue to consolidate as growth and scale become increasingly important.
- Strong Synergies Fuel Merger: The transaction brings synergistic opportunities to both parties. Aditi’s experience in cloud, design and engineering complement Symphony’s strengths in mobile and analytics.
- Activity In the Space: This acquisition follows two other deals in the U.S. this week where Microsoft Dynamics partners combined:
For more information, read the press release here. martinwolf was not the advisor in this transaction.
*According to media reports.