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Aspire Systems, Chennai-based mid-size technology company, has acquired Versant Technologies, in Hyderabad for undisclosed sum. This will help Aspire enhance capabilities for retail, distribution and consumer goods vertical.
Nearly 70 employees of Versant will become part of Aspire systems. This will take the total employee strength of Aspire to around 1,150, according to Gowri Shankar Subramanian, Chairman and CEO, Aspire Systems.
While he did not want to divulge the acquisition cost, he said Versant with a revenue of around Rs 10 crore, specialises in Oracle Retail Implementation, an area in which Aspire is also present. From in-store operations to supply chain management to human resources, the solution’s advanced analytics capabilities transform a client’s ability to carry the right items, at the right price and in the right location.
Oracle’s leadership position among global top 20 retailers position Aspire to capitalise on the $6-billion IT services export market in retail. While Versant has 8-9 customers in Saudi Arabia, Aspire’s clients are in the UAE. This gives an opportunity to tap Versant’s customers and vice versa, he said.
“We will continue to explore small acquisitions that will help us reach revenue of around $100 million in the next three to four years,” he said. The company is likely to report revenue of around $35 million for the year ending March 2014. Revenue has more than tripled in the last four years, he said.
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