The Hindu Business Line : KTwo Tech acquires Adamya Computing

Bangalore June 1 KTwo Technology Solutions, a product start-up floated by former employees of Mphasis, has acquired the Bangalore-based Adamya Computing Technologies for an undisclosed sum in a cash-cum-stock deal.

The 10-year-old Adamya is focussed on the Bluetooth and embedded systems domain providing product and reference design, prototyping, Intellectual Property (IP) licensing and engineering services to semiconductor companies, original equipment and device manufacturers.

"The acquisition of Adamya enhances our IPs and product engineering services while improving our product offering in the areas of enterprise mobility, automotive and healthcare - the three focus areas of KTwo," said Mr Anant Koppar, Chairman and CEO, KTwo Solutions. Mr T.J. Yatheendranath, CEO of Adamya, said the merger with KTwo brings in good synergy for creating world-class products from India. Adamya is very strong in IP products especially in the automotive infotainment and hands-free car kit market. Besides, the company has reference designs and clients in the healthcare and automotive markets. As part of the deal, KTwo has acquired the stake held by Infinity Ventures in Adamya.

Further, KTwo will retain the management and the 60-odd employees of Adamya, which would result in a total headcount of some 80 people, Mr Koppar said.

"We are in talks with a couple of venture capitalists in this regard," Mr Koppar said.

Mr T.J. Yatheendranath, CEO of Adamya, said the merger with KTwo brings in good synergy for creating world-class products from India. Adamya is very strong in IP products especially in the automotive infotainment and hands-free car kit market. Besides, the company has reference designs and clients in the healthcare and automotive markets.

It had revenues of a little over million dollars for 2006-07. As part of the deal, KTwo has acquired the stake held by Infinity Ventures in Adamya. Further, KTwo will retain the management and the 60-odd employees of Adamya, which would result in a total headcount of some 80 people, Mr Koppar said.

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