PTIHYDERABAD: Kellton Tech, a city-based IT services and solutions firm, today announced acquisition of US-based ProSoft Group, an enterprise solutions and business integration provider, for $14 million.
With this move, Kellton Tech, which has been on an acquisition spree for the last few years, expects to notch up revenue of about Rs 500 crore ($80 million), a figure somewhat close to its August 2016 target of Rs 600 crore.
The ProSoft Group consists of four companies - Prosoft Technology Group, Cyber-World Solutions, Intellipeople Inc and Prosoft Business Solutions.
"The acquisition is consistent with our larger strategy of expanding our portfolio and geographic reach. By blending ProSoft's experience in offering innovative business enterprise solutions with our core technology, Kellton Tech is poised to broaden its penetration, especially in the ERP-EAI domain," Kellton Tech CEO Karanjit Singh told reporters here.
"Pairing with Kellton Tech will definitely advance our ability to innovate and enhance the value proposition ProSoft delivers to clients," said Raj Gupta, CEO, ProSoft Group, who will continue to lead the firm.
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"We have also been acquiring technologies that provide us deeper capability. Some smaller acquisitions to complete our vision of offering full spectrum of IT services and solutions are still on the cards," said Niranjan Chintam, Founder and Chairman, Kellton Tech.
