Business

To The New scouts for acquisition in U.S.

To The New Pvt. Ltd., a digital technology services company, is planning to acquire a tech firm in the US with an investment of $10 to $20 million to strengthen its base in that market and localise its delivery capability, a top executive said.

“We are planning to acquire a company this year as we want to strengthen our position and expand in the U.S.,” said Deepak Mittal, CEO and co- founder.

“The buyout will enable us to acquire some enterprise accounts in the U.S. which will broaden our global network and foster inorganic growth in FY22,” he said.

The company already has offices in India, UAE, the U.S. and is gradually expanding into new international markets such as Australia and New Zealand, where it plans to establish a regional offices and expand its teams.

The company with 200 customers clocked revenue of $58 million in FY21.

“We have been growing at a CAGR of 65% for the last three years and now, with international expansions, we have a revenue target of $400 million by March 2026,” Mr. Mittal said.

He said since businesses are moving to the Cloud in the aftermath of the COVID-19 pandemic, most are facing challenges of security, availability of skilled resources and cost optimisation on cloud.

Towards this, the company has developed a solution called Cloudkeeper, which guarantees savings on AWS cloud spends ranging from 5% to 15% on monthly bills.

“CloudKeeper also provides customers with valuable insights into their cloud usage and helps them make intelligent data-driven decisions by providing real-time dashboarding and analytics while managing their AWS billings,” he added.


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Printable version | Sep 26, 2021 6:03:42 AM | https://www.thehindu.com/business/to-the-new-scouts-for-acquisition-in-us/article35653457.ece

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