ASM Tech buys Abacus Business Solutions

ASM Technologies has announced it has signed a definitive agreement to acquire 100 per cent of Abacus Business Solutions, a US-based firm, in an all-cash deal. As part of the deal, ASM will offer to acquire all of the outstanding stock of Abacus through ASM’s wholly-owned Singapore subsidiary Advanced Synergic Pte Ltd.

ASM Technologies, established in 1992, is a public limited company in India providing consulting services in enterprise solutions for the packaged ERP products and in enterprise product development for SMB segment and in technology solutions covering embedded systems and system software.

Abacus has been in the business for over a decade assisting corporations with enterprise applications, Oracle Applications, Oracle Tools and Technology, E-Commerce, Reporting and Data warehousing. Some of AbacusRs s clients include Cisco Systems, Adobe, Seagate Technologies, Sun Microsystems, Hitachi Data Systems and others.

Jay Belur, who co-founded Abacus, has held various leadership positions in OracleRs s product development, architecture and consulting groups.

“We are very fortunate Jay Belur is joining us and we are looking forward to growing our Oracle practice under his guidance and leadership. For ASM, with its globaldelivery model, the combination of two companies will provide an opportunity to add new clients,” said Sundar Ramanathan, assistant director, ASM.

“The acquisition gives ASM an opportunity to expand its offerings to a larger ERP client base in the US. ASM’s Center of Excellence (CoE) located in India provides complimentary solutions for Abacus’s clients to leverage and manage their Enterprise Applications,” said Rabindra Srikantan, managing director, ASM Technologies.