IT consulting and software services company Sonata Software Ltd has entered into an agreement to acquire US-based supply chain software and services provider Interactive Business Information Systems Inc (IBIS) for about $14 million (Rs 91 crore), as per a stock market disclosure.
The company will pay an upfront payment of $8.6 million in cash and $5.4 million earn-outs payable by the end of 2017.
The acquisition will augment the global presence for Bangalore-based Sonata Software, which receives a large chunk of its revenues from reselling software in India and is a major reseller of Microsoft software.
“Together with IBIS, we now have a strong management team, a solid customer base and a deep partnership with Microsoft in the US. The customers currently with Sonata and IBIS will gain from the complementary capabilities we bring to the table,” said Srikar Reddy, MD and CEO of Sonata Software.
Georgia (US)-based IBIS makes CRM supply chain solutions for distributors, manufacturers and retailers and serves leading US enterprises.
“This acquisition will enhance our product reach as we will be capable of delivering enhanced services while reaching many more clients globally. Our customers will benefit from the products and services that a company like Sonata brings to the table,” said Andy Vabulas, founder and CEO of IBIS.
Sonata Software is focused on solutions for travel, retail and CPG verticals driven through integrating technologies such as omni-channel commerce, mobility, analytics and cloud.
In August this year, it agreed to acquire another US-based company Halosys Inc for $5 million.