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.