Corpus acquires Intellix for 2.5 M USD

By Staff
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Google Oneindia News

Bangalore, Mar 16 (UNI) Corpus Inc, a custom application development and IT service provider to Fortune 100 companies in the banking, financial and telecom industries, has acquired Intellix Software solutions, a city-based software solutions provider, for about 2.5 million US Dollars.

Addressing newspersons here today, Corpus CEO Sachin Tummala said the deal included both cash and stock components. With the acquisition, Intellix CEO Anil Ahuja would be Head of Operations.

He said Corpus was looking for a company with expertise in Capital Market and Intellectual property related custom solutions and found Intellix most suitable for its expansion plans in India.

Mr Tummala said Intellix would bring its expertise in domain-specific services in the banking and capital markets and provide proprietory software slutions that help accelerate the adoption of web services. Intellix also had a consulting business through which it provided offshore application development services to European Banks.

UNI MV GD RKN1650

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