|By PR Newswire||
|March 7, 2014 06:28 PM EST||
HYDERABAD, India, March 7, 2014 /PRNewswire/ -- Infotech Enterprises Limited (Infotech) announced today that its wholly owned subsidiary, Infotech Enterprises America, Inc. has signed a definitive agreement to acquire Softential, Inc. (Softential), headquartered in Herndon, Virginia.
Softential, Inc. has over a decade's experience and an impressive track record around Service Management and Service Assurance solutions for telecommunications and cable operators, enterprise customers and the public sector. Blending strong domain expertise related to networks and operations with a global service delivery model, Softential designs, implements and manages systems and applications that allow customers to reliably monitor and control the performance of their communication networks and business services in real time. The acquisition strengthens Infotech's telecommunications business unit by adding 140 skilled global resources.
Infotech is an acknowledged leader in the delivery of design engineering services, network engineering & operational support services and data transformation services to customers worldwide. The company has created significant market presence and long-term engagements with communication service providers, electric distribution network operators and manufacturing companies among several industry sectors. It helps the global communications industry design, engineer and roll out next generation networks and enhance the quality of service for their customers. To deepen focus in this segment and strengthen its "Network Performance….Delivered" value proposition, Infotech is delighted to announce the acquisition of Softential, Inc. in an all cash transaction that will be earnings accretive.
By leveraging their combined and complementary strengths, Infotech and Softential will offer a scaled, cost-effective and globally delivered managed service proposition for customers to more efficiently plan, build and operate their Network Operations Centres and Data Centres. The resulting synergies will enable Infotech to broaden its service portfolio for existing customers while supporting expansion into new geographic markets.
Mr. Srinivas Tipirneni, President Softential, Inc. said, "We are excited to become part of the Infotech family. Over the years Softential has built an impeccable record of service delivery, a long term client base and a differentiated offering. This alliance creates a scalable platform for enhancing strategic value and provides an opportunity for cross-pollinating offerings across the combined customer base. In Infotech, Softential has found a partner that is strategically aligned to its business and whose global presence and financial strength will be of immense value. My team looks forward to working with our new colleagues and jointly realising our shared growth ambition."
Commenting on the acquisition, Mr. John Renard, President and Business Unit Head, Telecom and Utilities, Infotech Enterprises Ltd. said, "Softential is a great business and I am delighted that we will be able to work closely with Srini Tipirneni and his team. With its strong technical and domain expertise combined with proven global delivery capability, Softential will fit very well in the Infotech family. I strongly believe that the combined entity will be very attractive to both companies' existing customers."
About Infotech Enterprises:
Infotech Enterprises provides leading-edge engineering solutions, including product development and life-cycle support, process, network design and optimization, and data management solutions to major organizations worldwide. With nearly two decades of continuous growth, Infotech leverages a global delivery and collaborative engineering model to achieve measurable and substantial benefits for its customers. The company helps its customers design innovative products faster, optimize R&D costs, increase market share, enhance operational efficiency and maximize their return on investment.
Infotech Enterprises had a turnover of US$345 Million in 2013-14 and has more than 11,800 associates operating across 38 global locations. It is is a public limited company and listed on the NSE/BSE stock exchange in India.
SOURCE Infotech Enterprises Limited
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