Indus Net Tech buys ERP solutions provider

Kolkata, March 18

Kolkata-based Indus Net Technologies has acquired ERP solutions provider, InFluxERP, in a stock plus cash deal for an undisclosed amount.

With this acquisition, Influx team will become a part of Indus Net Technologies Banking, Financial Services and Insurance (INT BFSI) team.

“This acquisition is done to strengthen our BFSI capabilities and is in line with our growth strategy. This acquisition will help us bring the innovative digital capability to the traditional backoffice solution for stock brokers”, said Abhishek Rungta, Founder & CEO, Indus Net Technologies.

InFluxERP is engaged in the business of brokerage & distribution of financial products that include mutual funds, insurance (both life & non-life), stocks, derivatives, commodities, consumer finance, etc. The company was owned by Binay Das & Bharat Berlia.

Indus Net Technologies plans to make InFluxERP to be the leader in the back office vertical and then extend the product to the other verticals as well, it said in a press release.

"There are about 7,723 stock brokers listed under SEBI in India and they are all potential customers of the team. There is a huge market for InFluxERP and this innovative product will gain a lot of momentum in the near future," it further added.

Published on March 18, 2016

Related

MORE FROM BUSINESSLINE


 Getting recommendations just for you...
This article is closed for comments.
Please Email the Editor