India’s App Developer Robosoft Acquired By Japan’s TechnoPro For INR 805 Cr

Japan’s TechnoPro Holdings, a technical staffing services firm will acquire Udupi-based app developer Robosoft Technologies for INR 805 Cr. TechnoPro will be acquiring Robosoft Technologies in a two phased manner – 80% in the first tranche and 20% in the second tranche one year later. The share price in the first tranche  will be determined based on the EBITDA, net cash balance and so forth of the fiscal year ending March 2021, while the share price in the second tranche will be determined based on the EBITDA, net cash balance and so forth of the fiscal year ending March 2022.

With this acquisition Technopro will be gaining and expanding the customer base in Japan of media, BFSI and retail/EC industries utilising the existing solutions of Robosoft. Developing and providing TechnoPro’s customers such as manufacturers etc., with digital solutions combining Robosoft’s unique offerings of advisory and UI/UX design and TechnoPro’s existing technologies. Leveraging Robosoft’s engineers at domestic on-site and offshore and nurturing TechnoPro’s engineers in a digital sphere, given the tight supply of digital savvy engineers in Japan

Founded in 1996 by Rohith Bhat, Robosoft Technologies is a full-service digital transformation company that offers end-to-end solutions in product advisory, design, engineering and analytics. The Karnataka based company enhances customer experiences and drives brand preference. The company boasts of having Apple as its first customer. 

The 25-year-old company has  partnered with brands like Discovery, ESPN, AAA, HP, McDonald’s India, Paytm, NDTV, Viacom18, among others.  The company’s clients are spread across diverse domains – banking & financial services, ecommerce and retail, media and entertainment, healthcare and pharma among others. 

The company is backed by Ascent Capital and Kalaari Capital and they own 37.3% and 27.0% of stake in the company. Fifteen individuals including promoters and executives of Robosoft holds 35.7% of stake in the company.  Robosoft had raised its series B round in 2015 after bagging INR 22 Cr in Series A round from both the investors. .

As per the company’s financials, Robosoft posted a net income of INR 49.4 Cr in FY 21 as compared to INR 18.2 Cr in FY 20. The company’s net sales rose to INR 184.0 Cr in FY21 a sharp increase from INR 97.4 Cr in FY 20. Robosoft’s EBITDA stood at INR 73.6 Mn as compared to INR 27.8 Cr in FY 20.