Puducherry-headquartered Integra Software Services Pvt. Ltd. has seen ownership change, under which Barings Private Equity Fund has sold its entire majority stake in the e-publishing firm to the promoter-group led by Sriram Subramanya and Anu Sriram.
The financial details of the transaction were not disclosed. It was gathered that Barings had 60 per cent stake in the company.
Mr. Subramanya and Ms. Sriram founded the company in 2000.
Post-acquisition of majority stake in the company, the management will chart aggressive growth plans supported by organic and inorganic strategies. “We intent to double the revenues in the next two years,” Ms. Sriram, co-founder and Joint Managing Director of Integra told The Hindu .
The company is expected to end the present fiscal with revenues of $15 million. Its revenues in 2013-14 were about $13 million.
Integra’s future growth plans also include strong presence in product segment. It has been working on developing products in the e-publishing space. “Not just services, we expect products also to be a strong driver of growth,” she added.
Its Chennai office will be expanded by 100 seats immediately to support its growth plans. But its major centre is in Puducherry, while it has presence in the U.S., the U.K., Spain and Italy too. It employs about 1,100 people.
