Atlanta-based IT firm American CyberSystems, Inc. said it has acquired Hyderabad-based Guru Gowri Krupa Technologies Pvt. Ltd, also an IT firm, for an undisclosed amount.
The acquisition, which gives American CyberSystems synergies in the IT consulting and development space, allows for expansion into new areas and provides both onshore and offshore options, the acquirer said in a release.
“The successful acquisition of Guru Gowri Krupa (GGK) Technologies presents new opportunities for American CyberSystems and positions us to accelerate our growth plans in the marketplace,” said Raj Sardana, chairman and chief executive officer of American CyberSystems.
GGK Technologies will become a part of the American CyberSystems’ solutions group.
Mid-market boutique investment banking firm o3 Capital was the financial advisor to GGK Technologies on this transaction.
Incorporated in 2004, GGK Technologies is engaged in software development, product engineering, business intelligence, and quality assurance services for its enterprise clients. The company, with offices in North America and India, has 1,000 employees.
The company’s consolidated net sales stood at Rs 104.19 crore and profit after tax was Rs 23.96 crore for the year through March 2017, according to VCCEdge, the data research platform of VCCircle.
According to its annual report for 2017, the US accounted for 97% of its net sales and Australia and Europe the rest.
Its acquirer Amercian CyberSystems was founded in 1998 by Sardana. The company has grown to over $700 million in annual revenue and has more than 12,000 employees and consultants worldwide.
The firm provides IT consulting, engineering consulting, healthcare, talent, and workforce management solutions. The company conducts business through four verticals – HireGenics, ComforceHealth, Analysts, and Analysts International Corporation (AIC).
HireGenics provides workforce management solutions, ComforceHealth gives business services to hospitals and healthcare systems, Analysts offers IT consulting and solutions to businesses and government agencies, and AIC makes available highly-skilled professionals to clients.