Ex-Wipro CEO Vivek Paul-promoted KineticGlue, an enterprise focussed social collaboration firm, has acquired Injoos Web Solutions, a Bangalore-based provider of social media tools for enterprises, in an all-stock deal. The deal amount was not disclosed.
The deal will allow KineticGlue to expand its bouquet of offerings and expedite its product development.
Paul founded an India-focused PE fund Akansa Capital after quitting TPG India (where he joined after his stint at Wipro) as partner. He moved to India and invested in KineticGlue in July 2010. “The Injoos team and their product will strengthen and enhance our offerings for the Indian market across multiple industries, ” he said. KineticGlue Online Communities was founded in 2008 by Meeta Malhotra and is currently looking to raise funding, according to the Economic Times. The company declined to divulge further details.
The two companies have been developing the cloud-based platform and targeting a similar customer segment. Injoos' platform enables collaboration in sales, to connect with distribution partners, project management and communication across a company.
In August, the company announced support for all major smartphones on Apple and Android platforms and in October launched the latest release of the service - version 6.0. KineticGlue's knowledge management platform also uses social applications such as news feeds, wikis, sharing and 'like'ing content a la Facebook and rich profiles to engage employees and is targeted at companies with geographically distributed teams.
The founders of Injoos Jagdish Vasishtha and Srinivas Seshadri will join the company’s board and have been designated as COO and CTO respectively of KineticGlue.
“This combination allows us to offer a more comprehensive integration with existing systems, including Microsoft and IBM, and create a social intelligence layer on top of existing applications. We remain committed to enterprise class security and access control. Being cloud based, we can provide any time any where, any device access," said Sheshadri.
The two companies will benefit from a combined userbase - Injoos' customers include Azurn, investment firm Chesapeake Group, Tavelon, PES, WWF India, Government of Karnataka, Vividata Knowledge Consulting, Aroha Technologies. KineticGlue's clientele includes Yes Bank, ICICI Bank, Fortis, L&T Infotech, Future Group and Airtel. The platform is also used by over 200 medium to small sized companies in India and the company claims a userbase of 10,000 while Injoos has 5000.