US and Bengaluru-based IT company PrimeSoft, on Saturday (March 28), announced that it has acquired Hyderabad-based developer of mobile and web-based applications iGenero. With this acquisition, iGenero’s team, including engineers, have joined PrimeSoft. The acquisition will enable PrimeSoft to enhance its tech capabilities.
Meanwhile, iGenero will be able to leverage the resources and capabilities of PrimeSoft to scale its offerings and help its clients with new digital products and services. “Our collective goal is to provide a comprehensive network of integrated services that will better serve our customer’s needs,” iGenero said in a statement.
PrimeSoft was founded in 2006 and is a provider of software solutions, tools, and products to its clients in the US and Canada. The company has a team of over 200 engineers. The company offers services like product development, cloud infrastructure, platform-as-a-service, infrastructure-as-a-service, and product testing.
On the other hand, iGenero, founded in 2008, helped businesses to follow the digital route. So far, the company has worked with many startups and businesses to provide them with solutions which enabled them to create value and drive change to compete in a digitally-driven economy. iGenero offers services like development of online applications, content management systems, and business intelligence solutions.
After this acquisition, the company will provide the same services which it has provided in the past even after the acquisition. iGenero said that in the last 12 years, the company has grown many folds, thanks to the team members, referrals of our client base and those of other players within the industry.
iGenero was founded by Aditya Gupta, Karan S Kumar. It is worth mentioning that Gupta was also the founder of the social media news portal Social Samosa. The startup was sold to private investors back in 2016 and since then Gupta was dedicated to iGenero.
According to a new study by the National Association of Software and Services Companies (NASSCOM), there has been tremendous growth in the information and technology industry of India which has pegged this sector to grow at a pace of 7.7% in the financial year 2020. NASSCOM also highlighted that IT exports which are expected to stand at $147 Bn by FY20 will be the major drivers of the growth of the Indian IT industry during this period.
Besides PrimeSoft and iGenero, numerous Indian startups are leveraging India’s engineering talent to build tech products and services to sell in European and American markets. Some of the notable startups in this sector include Zoho and Freshworks.