Trianz acquires Megasoft's IT division BlueAlly for $15 mln

Fri Aug 21, 2009 3:21pm IST

Related Topics

Chennai-based Megasoft Ltd has approved the sale and transfer of its IT division BlueAlly, to Trianz Inc., USA for a deal expected to be around $ 13-15 million. In a statement to BSE, Megasoft said that the decision in this regard was taken at the meeting held by the board of directors today.

“A combination with Trianz is the right initiative for all stakeholders of Blue Ally. Trianz is on a serious growth and expansion mode and this move creates a scalable platform for enhancing partnerships with clients and a new set of learning and growth opportunities for all employees in the combined organization. We wish them the best,” said GV Kumar, Managing Director of Megasoft Limited in a release.

BlueAlly acquisition is a part of its expansion strategy in India and abroad. Trianz Inc, USA is a wholly owned subsidiary of Bangalore based Tianz Holdings Pvt. Limited. In 2007, Trianz, has raised $14 million from New York Life Investment Management India Fund, to fund its growth plans in India, USA, Europe and Asia Pacific region.

Bangalore based Trianz, headed by Sri Manchala, provides an integrated set of consulting, IT and BPO solutions, each enabled by innovative and proprietary global execution models.Around 60% of Trianz revenue comes from technology outsourcing, while consulting accounts for the rest 40%. Trianz's clientele includes companies like Hewlett Packard, Cisco, Microsoft, ITC among others.

-- Copyright 2008 VCCircle.com. All rights reserved.

This content/article is provided by Mosaic Media Ventures Private Limited and not by Reuters. All rights, including copyright, in this content/article provided by VCCircle.com are owned or controlled by Mosaic Media Ventures Private Limited. The content may not be copied, broadcast, downloaded and stored (in any medium), transmitted, adapted or changed in any way whatsoever without the prior written permission of Mosaic Media Ventures Private Limited.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared
People walk in the Wipro campus in Bangalore June 23, 2009. REUTERS/Punit Paranjpe/Files

Wipro Q4 net profit beats estimates, rises 29 percent

Wipro posted a 29 percent rise in its fourth-quarter net profit, beating expectations, helped by increased IT spending by its customers. For the quarter ended March 31, the company said it earned 22.27 billion rupees compared with 17.29 billion rupees a year earlier.  Full Article | Full Coverage 

REUTERS SHOWCASE

Election 2014

Election 2014

India holds biggest day of voting with BJP gaining strength  Read | Full Coverage 

Market Eye

Market Eye

Sensex jumps 351 points, snaps 3-day losing streak  Full Article 

Insider Trading Case

Insider Trading Case

Ex-Goldman director Rajat Gupta to surrender June 17 in insider case.  Full Article 

Expansion Plans

Expansion Plans

Reliance Industries, HPCL Mittal plan refinery expansions.  Full Article 

S&P on India

S&P on India

S&P: India's ratings to depend on next govt econ, fiscal policies.  Full Article 

Ambitious Aim

Ambitious Aim

In green car race, Toyota adds muscle with fuel-cell launch.  Full Article 

Deal Talk

Deal Talk

Piramal to buy 20 percent stake in Shriram Capital for $334 million.  Full Article 

Bond Market

Bond Market

A star abroad, RBI boss riles bond traders at home  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage