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T.E. Rajasimhan

Chennai, Aug. 21 Quintegra Solutions Ltd, a Chennai-based IT services and consulting company, is close to acquiring a US company, based in Washington DC, for around $50 million (Rs 200 crore).

The deal is likely to happen next month and will improve Quintegra’s revenue to over Rs 400 crore this fiscal ending March 2008 from around Rs 75 crore last year.

The acquisition will also help the company to add around 300 employees, according to sources.

When asked, the company officials declined to comment.

Quintegra (formerly Soffia Software) is engaged in providing software solutions for banking and financial services, telecommunications, healthcare, education and training and engineering industries.

In March, Quintegra acquired two software companies — one in the US and another in Singapore — for a total consideration of $10.5 million (Rs 46.5 crore).

It acquired 100 per cent stock in the US-based ValleyUS for $9.5 million and the Singapore-based JadeLite for $1 million.

Quintegra provides software solutions on Microsoft, SAP and Oracle to clients such as Vallent and JP Morgan.

More Stories on : Mergers & Acquisitions | Software

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