Hyderabad-based SAP solutions provider itelligence India Software Solutions Pvt. Ltd has acquired vCentric Technologies Pvt. Ltd for an undisclosed amount.
itelligence India Software is a subsidiary of Germany’s itelligence AG.
“The acquisition of vCentric is the first step towards our expansion into the Indian IT market. With more than 1,300 employees, we are now one of the leading SAP partners in the subcontinent,” Norbert Rotter, chief executive officer of itelligence AG, said in a statement.
The acquisition will help itelligence India Software make available its offerings throughout India, the firm said.
Venugopal Uppalapati, chairman of vCentric Technologies will join the management team of itelligence India Software.
Co-founded by Uppalapati, Hari Prakash and Nag Gupta in 2005, Hyderabad-based vCentric Technologies offers SAP solutions to more than 250 clients across India.
The firm registered revenues of Rs 71.78 crore and a profit after tax of Rs 1.59 crore in FY2015-16, according to VCCEdge, the data research platform of VCCircle.
itelligence AG has a presence in 24 countries. It offers SAP solutions including consulting and licensing to application management and hosting services. In calendar year 2016, itelligence AG registered revenues of €777.9 million.
itelligence India Software made a profit of €683,000 (Rs 5.2 crore) in calendar year 2016, according to its annual report.