Kellton Tech, a company involved in digital transformation with expertise in enterprise solutions, has announced the acquisition of US-based Lenmar Group of Companies, an IT services and solutions group with presence in banking and financial services.

This acquisition will deepen Kellton Tech’s BFSI & IT capabilities and support its next phase of growth in existing markets of US, India and Europe and new markets in APAC region, according to a stock exchange filing by the Hyderabad-based company which did not disclose the deal size.

Lenmar Consulting provides a broad range of IT offerings, including cloud services and custom development. It has carved a niche for itself in the BFSI market. With offices in New Jersey, New York and one in Pune, the company became a natural acquisition partner for Kellton Tech that wanted to sharpen its focus on the next digital frontier of financial technologies, said Niranjan Chintam, Founder and Chairman.

For Kelton, which expects to grow around 20 per cent, this is the first acquisition in fiscal 2016-17. With this buy, the company hopes to expand its market share in the BFSI and deliver composite strategic value to customers, which include banks and hedge funds. Lenmar will leverage Kellton Tech’s global footprint to expand its technological and geographical reach, he told BusinessLine .

The company is well placed in digital adoption and transformation, which is the way ahead, he said.

Lenny Dimentman, President & CEO, Lenmar Consulting, said: “In joining Kellton Tech, we will be a part of an organisation that shares our commitment to building customer-centric solutions. Pairing with Kellton Tech will help us incubate new service offerings and expand service portfolio in BFSI using digital capabilities, thus advancing our ability to serve our customers".

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