WEB EXCLUSIVE: I-Power Solutions acquires Effulgent Technologies

Chennai-based I-Power Solutions has acquired the enterprise resource planning (ERP) business of Effulgent Technologies for an undisclosed sum. The move will enable the company to strengthen its position as the largest ERP vendor and implementation partner in south India.

“We have entered into an agreement with Effulgent Technologies to purchase its clients, employees and assets. We have paid an upfront fee, and we will pay 10 per cent of the gross revenues depending on realisation of certain parameters,” I-Power Solutions Chairman V Parandhaman told Business Standard.

He, however, did not divulge the upfront amount paid for acquisition Effulgent Technologies’ systems and personnel.

Effulgent Technologies has six installations and the purchase will help I-Power Solutions implement ERP products for Ramco Systems, he added.

I-Power Solutions, which provides ERP training under `ipower’ brand name, had earlier developed infrastructure facilities for Wipro.