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Engineering and data management solutions provider Infotech Enterprises Limited announced its wholly-owned subsidiary, Infotech Enterprises America, has signed a definitive agreement to acquire US-based Softential.
“We are paying 1.1 times FY13 revenue as upfront and one year earnout based on financial performance parameters. The earnout amount can’t be disclosed due to disclosure restrictions,” Infotech chief financial officer, Ajay Agarwal, said.
He said Softential FY13 revenue was $ 17 million. The deal was expected to be closed in three weeks and Softential would be part of Infotech’s revenue and profitability from 2014-15.
Softential has over a decade’s experience in service management and assurance solutions for telecommunications and cable operators, enterprise customers and the public sector. The acquisition strengthens Infotech’s telecommunications business unit by adding 140 skilled global resources, a company release stated here on Friday.
Infotech and Softential will offer a scaled, cost-effective and globally delivered managed service proposition for customers to efficiently plan, build and operate network operations and data centres.
