Hyderabad-based software development company CTIL Ltd (earlier Comp-U-Learn Tech India Ltd) is looking to acquire a couple of small IT firms, according to a stock market disclosure. The company’s board is meeting on February 14 to consider a proposal to buy Tangent Solutions (India) Pvt Ltd and Eiko Cybertech Pvt Ltd.
It did not share the proposed deal value.
Hyderabad-headquartered Tangent Solutions is a software product development and service oriented technology company. Incorporated in 2007, it provides solutions in supply chain finance (SCF), e-invoicing and invoice processing for industry verticals like banks, SMEs and large manufacturing sectors.
Eiko Cybertech is also an IT solutions provider and caters to both private and public sector clients.
Founded in 1997, Hyderabad-based CTIL offers education and training and internet based e-commerce, software and web development solutions. It also provides business process outsourcing solutions. The firm has additional offices in Goa, Hong Kong and the Middle East.
The company went public in 2000 and acquired a couple of firms two years ago. In May 2012, it acquired ECG Technology LLC, a Delaware-based firm engaged in engineering, technical and design consulting. Prior to that in February 2012, it acquired Divya Knowledge Process Management Ltd, an educational services company.
(Edited by Joby Puthuparampil Johnson)
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