KTwo technologies acquires Adamya Tech

Bangalore, May 31: Fledgling product design company KTwo Technology solutions today announced acquisition of product innovation company Adamya Computing Technologies for an undisclosed amount.

The three week old KTwo Technologies founded by a group of technocrafts headed by Mr Anand Koppar of Mphasis which was later acquired by EDS aimed to come out with its first product in October this year.

Announcing the launch of the company and acquisition of Adamaya, Mr Koppar told newsmen that his company would focus on products for Healthcare, automotive and enterprise mobility area. ''We have a few ideas which would be conceptualised soon,'' Mr Koppar said adding that he had floated the company along with ten other friends, ploughing own resources.

On future funding, he said within the next six months the company planned to raise around five million US dollars from an investment partner whose inclusion would be strategic to the company. The company aimed to build and consolidate products to create solutions that align high utility with business value. Initially the company would attack the domestic market, but aimed to global within the next three years. The first year of operations would see the company having 160 staff on its rolls.

UNI