KTwo buysAdamya Computing

KTwo Technology Solutions, a three-month-old Bangalore-based software product start-up, has acquired a 10-year-old Adamya Computing, which is also based in the city. No financials on the transaction were disclosed.

KTwo Technology, focussing on software products for enterprise mobility, healthcare and automotive space, has been started by Anant Koppar, who sold his Kshema Technologies to MphasiS in a $40 million deal couple of years ago.

Adamya Computing is a 60-people firm, focussed on short range wireless communication design and counts Texas Instruments, Infineon among others as its clients.

The company provides product and reference design, prototyping, IP licensing and engineering services to semiconductor companies, original equipment manufacturers and original device/design manufacturers.

KTwo which has a team of 20 professionals is expected to scale up to a team of 150 in an year's time backed by the 60-member team from Adamya.

Announcing this deal in Bangalore on Thursday, Koppar said, "This deal is part of our global strategy to enhance IPs and product engineering services. It also improves our product offering in the market particularly in our focus areas."

"As software development increasingly dominates the engineering process in consumer and industrial products, the primary challenge today is developing high-quality, reliable embedded software for these products," he detailed on the move to acquire Adamya.

KTwo Technology, in addition to this deal to virtually kick off its operations, is looking at raising around $5 million to expand its operations in the next six months.

"We are holding discussions with pure-play VCs, high networth individuals as well as strategic players. We should have a clear picture on this by October of this year," Koppar added.