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News >> Technology >>
Congruent buys California based Software firm
By agencies
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Friday, 29 April 2005, 19:30 IST
CHENNAI:Chennai based Congruent Solutions Pvt Ltd today said it has acquired California-based software consulting firm Reliance Software Consulting Inc for an undisclosed amount.
"The strategic move will enable Congruent Solutions to further strengthen its focus in technology consulting," Bala J Raman, founder and president, Congruent Solutions, a software development and business support services company, said.
Without revealing the exact amount paid for acquiring the U.S. company, Raman said that the acquisition cost would be below $5 million.
As per the deal, Reliance Software Consulting would be merged into Congruent Solutions with all the employees of the U.S. company becoming part of Congruent. The workforce of Congruent would go up by 15 percent after the deal, he said.
"This is certainly a strategic deal for Congruent. The service offerings of both the entities complement each other very well and we are very optimistic that this move will allow us to extend to the customers, the combined benefits of technical skills, product development methodology and domain expertise that is today an imperative in business," he said.
Reliance provides software and technology solutions to some of the leading product companies in the Silicon Valley. The company, through its Indian entity, Seven Hills Technology & Solutions, has been maintaining "what is clearly the number one portal on ports of India," a release by Congruent said. "We will look at leveraging its technology strengths to further scale up this portal," it said.