@Zensar_Technologies_L Limited, the software services outsourcing arm of the RPG Group has acquired Professional Access Software Development Private Limited, engaged in the information technology business with specialization in the e-commerce domain from @3i_Infotech Limited. The financial details of the deal were not disclosed.
Also Zensar Technologies Inc., the US-based wholly-owned subsidiary of Zensar Technologies, has acquired 100% outstanding equity shares of Professional Access Limited, a company registered in US. Post the deal he New York-based PA will now be a wholly-owned subsidiary of Zensar Technologies Inc.
Professional Access group, which is in the business of providing IT Services in relation to the Oracle ATG Commerce Suite, was acquired by 3i Infotech group in 2007. the deal forms a part of 3i's strategy to sell its non-core assets / investments and use the additional cash generated from such sale to deleverage its balance sheet and for business purpose.
@ICICI_Securities was the financial advisor whereas Nishith Desai Associates in India and Stahl Cowen Crowley Addis LLC in USA advised on the legal front to Zensar.
The buy is in line with Zensar's plan to increase its market share in the e-Commerce space specifically and the MRD segment in general and will be financed through a combination of internal accruals and debt.
PA's founders Babu Venkatesh and Ashu Chahal will continue to manage the company with its management team and all associates based in Bengaluru, Mumbai and Delhi-NCR becoming a part of Zensar's Global Delivery organization taking Zensar's overall Oracle practice strength to over 2200.
Zensar would be able to provide Oracle EBS, Oracle Retail and Fusion Middleware solutions to its existing clients.
The $38 million turnover , Professional Access (PA) is one of the largest Oracle ATG and Endeca partners and is also an Oracle platinum partner with presence in the US, UK, latin America, Middle East and Africa.
Zensar, a mid sized listed firm provides offerings encompassing service lines of management consulting, business application services, enterprise solutions, enterprise collaboration services, testing and assurance services, bpm and infrastructure management services.
The company is also looking at acquisitions in the enterprise resource planning (ERP) space. With Zensar targeting $1 Bn in revenue, it expects $100 Mn to come from possible acquisitions.
In 2010, Zensar Technologies Ltd through its wholly owned subsidiary Zensar Technologies Inc acquired PSI Holdings Group Inc; a limited liability company incorporated In Massachusetts, US and its subsidiaries - Akibia Inc, Aqulla Technology Corp and Akibia B.V.