America's Symphony Teleca to acquire Bangalore-based Aditi Technologies
US-based Symphony Teleca Corporation (STC) on Thursday said it will acquire Bangalore-based Aditi Technologies for an undisclosed amount.
Aditi will serve as a strategic growth lever for STC through its design and cloud expertise, complementing its engineering, mobile and analytics capabilities, STC said in a statement.
The combined team will have 7,500 employees across 40 global offices with innovation hubs in North and South America, Europe and Asia.
Symphony has over 6,000 employees in over 32 offices worldwide, including delivery centres in Asia, Europe and the Americas. It offers software services to the mobile communications industry.
The company expects to see 20 per cent growth by the close of 2014. Aditi will continue to operate as a new division of STC under the leadership of Pradeep Rathinam.
With the acquisition, STC will extend its leadership in innovation to drive clients' revenue growth by being able to uniquely deliver systems of engagement (SoE), it added.
SoE are applications that businesses use to engage with their customers by utilising the convergence of cloud, mobile and analytics.
The SoE market is expected to grow from $33 billion in 2013 to $111 billion in 2020, as per research firm Zinnov.
The combined company will have capabilities in delivering SoE based on analytics-powered modern apps and smart mobile devices. It will serve a broad spectrum of customers spanning enterprises, independent software vendors and connected systems manufacturers.
"Symphony Teleca and Aditi are both leaders in innovation and I welcome Aditi to the Symphony Teleca team," Symphony Teleca Corporation chairman Romesh Wadhwani said.
The combined team is the clear global leader in delivering product and solution development services that drive innovation-led growth for our clients, he added.
Both parties are working to obtain certain procedural regulatory approvals to formally close the transaction. The terms of the deal have not been disclosed.
Avendus Capital was the lead financial advisor for Aditi for this transaction.
"The acquisition creates a unique force that will help today's businesses drive their growth agendas and improve business agility by harnessing the power of analytics, modern applications and smart devices," Aditi CEO Pradeep Rathinam said.
