Mindteck acquires ISS Consultants Inc
Bangalore, Apr 4 (UNI) Mindteck, a global IT solutions company, today announced the acquisition of ISS Consultants Inc, a software consulting services company headquartered in Houston, Texas, for an undisclosed amount in an all-cash deal.
ISS provided outsourced software services in SAP implementation and support as well as software development services for embedded systems. It had made a profit of two million Dollars in 2005 on a revenue of 11 million Dollars.
The service offerings of ISS reinforce that of Mindteck while extending Mindteck's market reach and expanding its customer base.
ISS would operate as a subsidiary of Mindteck USA and the executive management of ISS would continue in its current roles, Mindteck said in a release here.
Commenting on the acquisition, Mindteck CEO P A Ananthanarayanan said ''It is yet another step in the execution of Mindteck's growth strategy that combines organic growth with prudent acquisitions that yield profitable operations. While bringing in valuable customer relationships, the acquisition also enhances Mindteck's service capabilities, especially in the SAP services space.'' UNI VK GD GM1638