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InfoBeans Technologies has acquired New York-based Philosophie Group in an all-cash deal. The financial terms of the deal were not immediately disclosed.
The deal provides InfoBeans Technologies greater access to the US market and world-known brands. Philosophie, which is expected to clock $10 million revenue this year, hopes the deal to help it emerge as a $28-30 million company, it said in a statement.
This puts InfoBeans at par with medium- and large-tier IT companies on per person revenue, it added.
“Philosphie’s design and prototyping abilities complements enterprise application development capabilities of InfoBeans. This union will enable the combined entity to provide a much wider spectrum of services to our clients,” Avinash Sethi, Co-founder, InfoBeans Technologies said.
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