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Indus Net Technologies, a Kolkata-based internet consulting company, has acquired ERP solutions provider, InFluxERP, in a stock plus cash deal for an undisclosed amount.
Under the deal, the Influx team will join Indus Net Technologies Banking, Financial Services, and Insurance (INT BFSI) team.
In a statement, Abhishek Rungta, founder & CEO of Indus Net Technologies, said, “This acquisition is done to strengthen our BFSI capabilities and is in line with our growth strategy. This acquisition will help us bring the innovative digital capability to the traditional back office solution for stock brokers.”
InFluxERP was founded in 2009 by Binay Das & Bharat Berlia. The company was engaged in the business of brokerage & distribution of financial products that included mutual funds, insurance (both life & non-life), stocks, derivatives, commodities, consumer finance, etc.
Through the acquisition, Indus Net Technologies plans to make InFluxERP a leader in the back office vertical and later extend the product to the other verticals as well.
Abhishek added, “There are about 7,723 stock brokers listed under SEBI in India and they are all potential customers of the team. There is a huge market for InFluxERP and this innovative product will gain a lot of momentum in the near future.”
Indus Net Technologies was started by Abhishek Rungta, also the co-founder of angel investment firm, Seeders Venture Capital. The company is an innovative IT Service, managed outsourcing & internet strategy company that offers a combination of creativity and technology. The company has offices in more than 5 global locations and caters to a wide range of enterprise clients, digital agencies and emerging companies across various industry verticals like BFSI, MPE, Travel & hospitality, Education, e-governance in more than 40 countries.
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