Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
In a bid to strengthen testing and quality assurance (QA) service offerings, Saksoft Ltd has acquired a 51% stake in software testing service startup, ThreeSixty Logica. The amount of the deal was kept undisclosed.
The Saksoft is a Chennai-based Information Management solutions company, providing it services to some fortune 100 companies. ThreeSixty Logica offers high-end software testing programs and test solutions to independent software vendors, software product companies and SMEs.
According to the deal, the management team of ThreeSixty Logica will continue to run the company as Saksoft would like to benefit from their entrepreneurial skills and knowledge of the testing domain.
On this development, Aditya Krishna, CEO, Saksoft said, “There is considerable potential in the testing business and this acquisition will help Saksoft grow faster. This is in the backdrop of demand for independent testing services growing at a rapid pace in the social, mobile, analytics and cloud and e-commerce environment.”
Niraj Ganeriwal, CFO, Saksoft, said, “in the future, there is scope to acquire a 100% stake in ThreeSixty.” Last year for the quarter ended September, Saksoft reported a net profit of INR 2 Cr.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.