Sonata Software Ltd, an IT consulting and software services company, has signed a definitive agreement to acquire US-based Halosys Inc for $5 million, according to a stock market disclosure.
Sonata Software will pay an upfront amount of $2 million and rest will be paid over the next three years.
"This is in continuation of our strategy of investing in IP to drive our services growth and differentiating ourselves. Mobility has been one of the focus areas of investment for the past two years. Effective mobile innovation strategy and execution is critical to businesses these days," said Srikar Reddy, CEO of Sonata Software.
"Mobile technologies are having a big impact on enterprise digital transformation strategy. We believe having the Halosys platform and team's strong expertise in enterprise mobility as part of Sonata's portfolio will significantly enhance our value proposition of digital transformation," he added.
Halosys is an enterprise mobility technology provider. Founded in 2007, the firm provides a single unified enterprise mobile platform that enables businesses build, secure, manage and deploy an enterprise wide mobile applications portfolio.
"We are excited with the opportunity that this brings in further developing the platform, enhancing market access and the highly compelling differentiated value proposition of a robust mobile platform with scalable service delivery capability. Sonata has strong experience and customer base in solving enterprise IT needs for digital business solutions," said Avinash Harsh, founder of Halosys.
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.
Last year in August, it acquired controlling stake in California-based Rezopia Inc, a cloud-based SaaS travel IT solutions for an undisclosed amount.