VSOFT acquires Coopman Consultancy Services

Hyderabad, July 12 (UNI) Riding high on technology boom in banking sector, global financial technology solutions provider VSOFT today announced the acquisition of Coopman Consultancy Services, a Bangalore-based software development and consultancy firm, founded by former RBI Deputy General Manager K R Ranganatha.

In a release, VSOFT President Murthy Veeraghanta said ''VSOFT sees substantial growth in the cooperative banking sector and this acquisition is part of the growth strategy.'' The potential business in the cooperative banking segment was Rs 400 crore and VSoft expects to capture at least 25 per cent in the next three years, he said.

With the acquisition, Coopman's core banking software, a cutting-edge product designed for use in co-operative banks, regional rural banks and credit societies, would also come under the VSOFT umbrella.

UNI