Sasken acquires iSoftTech for $1.45 mn
Mumbai, Apr 5: Technology major Sasken Communication Technologies today acquired Chennai-based Integrated SoftTech Solutions (iSoftTech) for US dollar 1.45 million.
With this, iSoftTech's development centres in Bangalore and Pune would now have another counterpart in Chennai also, as per the deal signed in Chennai, a release issued by Sasken to BSE here said.
Sasken Chairman Rajiv Mody, while expressing happiness over the deal, said, ''Chennai is growing in popularity as a destination for IT outsourcing, and we are excited about having a development centre here. iSoftTech currently has a 110-plus strong team in Chennai, which will be completely integrated with the Sasken family.''
He said iSoftTech's operational focus has been on providing embedded and enterprise solutions for customers in the VoIP (voice-over internet protocol), WLAN (wide local area network) and networking markets, along with a complete set of product life cycle support services for data network customers.
''These are in concurrence with our roadmap, and will further augment our offerings to existing customers. Their deep domain expertise and skills will also help us make a strong foray into offerings in the datacom domain,'' Mr Mody said.
''A dedicated team has already been identified and is working on fast and seamless integration between the two companies. Deliveries and commitments made to all iSoftTech customers will be met and continued, and there will be no disruption due to the acquisition,'' he added.