Cloud Computing Firm 8K Miles Buys U.S.-Based SERJ Solutions For Rs.16 Crore
Facebook Twitter google+ RSS Feed

Cloud Computing Firm 8K Miles Buys U.S.-Based SERJ Solutions For 16 Crore

52
cmt right
39
Comment Right
75
cmt right
11
cmt right
Printer Print Email Email


MUMBAI: Cloud computing firm 8K MilesBSE 0.78 percent Software Services acquired U.S.-based SERJ Solutions for around 16 crore to step up its presence in the healthcare market. 8K Miles -- the only listed cloud computing firm in the country -- said that it expects 45 crore in incremental revenue in the first year.



Commenting on the deal, 8K Miles Founder Chairman and Chief Executive Suresh Venkatachari said the buyout will help the company serve hospitals and healthcare providers by providing end-to-end software as a service tech platform.



"By taking advantage of our expertise in cloud technology and information security, and combining that with deep healthcare domain expertise, this acquisition will allow us to create a compelling suite of cost effective hosted SaaS solutions for healthcare service providers.



"This will enable organizations to dramatically improve operating margins in a short time, and use scarce capital to focus on patient care," said Venkatachari.



Shares of 8K Miles hit the 10 percent upper circuit to close at 625.65, while the benchmark Sensex inched up 2 percent in lacklustre trade.



While promoters own around 52 percent in the company, in August this year leading American fund house DSP Blackrock had picked up 3 percent in the firm and Sundaram MF picked around 2 percent in September.



The Silicon Valley-based 8K Miles is a preferred partner of Amazon Web Service and is a certification lab partner for the U.S. government health programmes.



In the September quarter, the company had posted a profit after tax of 4.14 crore.



READ MORE: Cognizant Completes Acquisition of TriZetto, Creating a Fully-Integrated Healthcare Technology



Honeywell's Latest Smartline Transmitter Increases Capabilities Of 'Smart' Field Products


Source: PTI
Experts on SiliconIndia
Santhosh  K
Sr. Soft. Engg.
Oracle India
Nehal Vyas
Sr. Team Lead
Cyberoam Tech.
Rani Malli
Sr. Director
Philips
Sr. Executive
ISB
Vijay Balkrishna Konduskar
Business Consultant
Imans Web Tech
Dr L P  Sharma
Technical Director
NIC
Reena Khanna
Founder
Solitaireworld
Dellas  Asse
sys-network admin
Computer Station
Write your comment now
Submit Reset