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Bangalore-based IT firm Acropetal Buys Two U.S. Firms
By siliconindia
Bangalore : Bangalore-based IT firm, Acropetal Technologies, has acquired two US based companies 100 percent of LineBeyond and 70 percent of Optech Consulting for $4.9 million each.
These acquisitions will expand Acropetal's reach in IT and healthcare and help the company to offer niche solutions to healthcare customers. This also strengthens the company's depth in the US markets and would enable it to provide solutions to various healthcare providers.
Acropetal Industries was established in 2001 by D Ravi Kumar .He was earlier involved in providing engineering design services. The company recently got listed on NSE and BSE on 10th March 2011, after raising 
170 Crore through IPO at an issue price of 90 per share.
It intends to use the proceeds of the issue to fund acquisitions, set-up software development centre in Bangalore
For FY2010, company posted consolidated total income of 153.45 Crore with PAT of 35.71 Crore, while for 9 months period ending December 2010; it posted a total income of 151.88 Crore with PAT of 28.4 Crore.
170 Crore through IPO at an issue price of 90 per share.
It intends to use the proceeds of the issue to fund acquisitions, set-up software development centre in Bangalore
For FY2010, company posted consolidated total income of 153.45 Crore with PAT of 35.71 Crore, while for 9 months period ending December 2010; it posted a total income of 151.88 Crore with PAT of 28.4 Crore.
