Sasken acquires iSoftTech

By agencies   |   Thursday, 06 April 2006, 07:00 Hrs
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CHENNAI: Bangalore based telecom solutions provider, Sasken Communication Technologies, has acquired Chennai based Integrated SoftTech Solutions (iSoftTech) in an all cash deal.

iSoftTech, owned by Analog Devices founder Raymond Stata, had a top line of $2.2 million in ’05 and employed over 110 people at its Chennai center. Rajiv Mody, chairman & CEO, Sasken said that the deal would be funded from the $20 million it raised through a private placement prior to its IPO last year.

The deal will add the Chennai development center to its existing facilities at Bangalore and Pune. Besides, it will get iSoftTech’s customers and expertise in data networking, VoIP and wireless segments. “We see an excellent strategic fitment with their operations,” he said.

iSoftTech will operate as a Sasken subsidiary in Chennai. Mody said the acquisition would augment its offerings to existing customers. “Ideally, we would like to have about 10 percent of our total employee strength in Chennai. But the time frame is yet to be decided,” he said. The $54 miliion Sasken employs 2,800 people at present.

Mody said the acquisition would augment its offerings to existing customers. It will also help it differentiate service offerings by leveraging iSoftTech’s products.

“Their deep domain expertise and skills will also help us make a strong foray into offerings in the datacom domain,” he said.

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