Aspire Systems Inc., a United States- and Chennai-based global technology services firm focussed on enterprise and outsourcing solutions, has acquired digital transformation services company RapidValue IT Services Pvt. Ltd.
In a statement, Aspire Systems said that as part of the acquisition it has bought the entire stake held by Helion Venture Partners in RapidValue IT Services, which operates as RapidValue Solutions.
It didn’t disclose the value at which it bought Helion’s stake or other financial details of the transaction.
India-focussed Helion Venture had invested Rs 25 crore (around $4.2 million) in RapidValue Solutions in 2014.
The acquisition will help Aspire strengthen its capabilities in the digital engineering segment, which it says has become a focus area for enterprises and independent software vendors looking to accelerate their digital transformation initiatives.
“With this acquisition, we will be able to take further steps towards our growth objective of doubling revenues in three years by gaining additional engineering strength, sales, and leadership capabilities,” Aspire Systems chairman and chief executive officer Gowri Shankar Subramanian said.
RapidValue CEO Rajesh Padinjaremadam said the acquisition would help the company to grow faster by leveraging Aspire’s capabilities and networks.
RapidValue was set up in 2009 by Padinjaremadam, Sirish Kosaraju and Rinish K Nalini. The company provides end-to-end services in mobility, internet of things and cloud technology. It has a presence in several countries, including the US and the United Kingdom.
Aspire began operations in 1996. Its services include product engineering, enterprise solutions, independent testing services and information technology infrastructure support services. The company says its clients have included entities such as Pearson, Apple, Emirates Business Group and Standard Chartered.
In August 2016, Aspire Systems invested in Ziffity Solutions LLC, a Chennai-based digital marketing agency focussed on e-commerce. At the time, Subramanian said the investment would help Aspire provide services related to creative design, content, e-commerce and digital marketing.
