Software services company Saksoft, on Tuesday, announced that it had acquired a U.S-based information management consultancy firm, Electronic Data Professionals (EDP), through its American subsidiary.
The value and terms of the deal, however, were not divulged.
EDP, which is a 50-employee strong firm and reported $6.5 million in 2012, will operate as a separate company, becoming a direct subsidiary of Saksoft Inc., U.S.
“EDP will be an additional channel for client acquisition and account management for us, and we believe for our growth in the U.S, this acquisition is a good fit. Saksoft is investing in sales, marketing and delivery capabilities for the American market, and we are impressed with EDP’s strength in the information management area,” said Aditya Krishna, CEO, Saksoft.
At present, the U.K market accounts for 55 per cent of Chennai-based Saksoft’s revenue, with 45 per cent coming from U.S and the rest from the Asia-Pacific region.
According to Sampath Rengachari, Executive Vice- President, Saksoft, the company believes that its market lies in the U.S, despite the recent rush to Continental Europe by most software service firms.
“We believe we are well entrenched in the U.K market and want to set up a similar base in the U.S market. We have learned from some of the management issues we had with the acquisition of Acuma in the U.K and believe that this one will go smoothly,” Mr. Rengachari said.