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Our Bureau

Chennai , Oct. 3

Saksoft Ltd has acquired 100 per cent stake in the UK-based Acuma Group for $17 million (Rs 78 crore) in cash.

The transaction is effective October 1, and was funded through Saksoft's internal accruals and debt, according to a company press release.

Acuma provides information value management solutions, including business intelligence, data warehousing, data integration, data quality improvement and testing services. It also offers licensing and training services in Business Objects.

The Chennai-based IT company and Acuma will combine high-end consulting with a global service delivery model, says the release.

Acuma's revenue was over $20 million in the calendar year 2005 and Saksoft's was Rs 50 crore for the year ended March 2006. The combined entity should have revenues of Rs 200 crore with 500 people and diversified operations in Asia, Europe and the US, the release says.

More Stories on : Mergers & Acquisitions | Software

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