Xoriant Corporation, a leading product development and engineering services company, today announced a definitive agreement to acquire IDEA Solutions based in San Jose, California. The combined company would have more than 1500 associates worldwide and will have services in the areas of product engineering and business solutions, delivered in onsite, offsite and offshore delivery modes.
IDEA is a global technology consulting and services company with operations in the US, UK and Asia Pacific regions. It provides services in the hi-tech, banking and financial services, automotive and manufacturing, and pharmaceutical industries.
"We are pleased to welcome IDEA's outstanding staff and leadership to the Xoriant family," said Girish Gaitonde, President and CEO of Xoriant Corporation. "This acquisition will significantly expand Xoriant's offerings and enable us to serve our financial services, pharmaceutical, and automotive customers with an impressive range of solutions. Furthermore, with an enhanced balance sheet the combined business will make necessary investments to not only cross-sell but also scale our services to joint clientele, thus benefiting our customers immensely.'
"We are excited about the opportunities ahead as we expand our footprint with Xoriant," said JP Vejendla, the Co-Founder and CEO of IDEA Solutions. "We believe with our strength in enterprise business solutions coupled with Xoriant's global product delivery services we will not only strengthen our offerings to our current clients, but also have the ability to scale to new opportunities quickly.'