Infotech Enterprises Ltd, through its wholly-owned subsidiary Infotech Enterprises America, has entered into a definitive agreement to acquire Virginia-based Softential Inc for an undisclosed amount, as per a stock market disclosure.
This is the second acquisition by the company in the US after 2010 when it acquired telecom engineering services provider Wellsco.
The acquisition would strengthen Infotech's telecommunications business unit by adding 140 global resources and will help it expand to new geographic markets.
Founded in 2000, Softential provides information technology service management (ITSM) solutions that includes ITSM system integration, process automation, ITSM dashboards, tool rationalisation and application management services.
"This alliance creates a scalable platform for enhancing strategic value and provides an opportunity for cross-pollinating offerings across the combined customer base. In Infotech, Softential has found a partner that is strategically aligned to its business and whose global presence and financial strength will add immense value," said Srinivas Tipirneni, president of Softential Inc.
Infotech Enterprises primarily caters to utility, transportation and government segments (UT&C); provides engineering design services for manufacturing and industrial products verticals and offers software services to clients in data & technology fields, engineering design and IT services space.
The firm is backed by Carlyle, General Atlantic and ChrysCap and ended the third quarter with revenues of Rs 578 crore with net profit of Rs 69.4 crore.
(Edited by Joby Puthuparampil Johnson)
