Datamatics to acquire controlling stake in app development firm TechJini

By Keshav Sunkara

  • 03 Jul 2017

Mumbai-based software firm Datamatics Global Services Ltd has entered into a definitive agreement to acquire a controlling stake in mobile and web application development company Techjini Solutions Pvt. Ltd.

Datamatics will acquire 71.1% stake in TechJini for $6 million (Rs 39.1 crore) in an all-cash deal before the end of the month, it said in a BSE filing. It has already acquired board control of TechJini, the filing shows.

Through the acquisition, Datamatics is looking to strengthen its mobility offerings with TechJini’s range of smart technology solutions.

“Enterprise mobility has gained significant momentum with companies adopting mobile first as a core strategy for their business and cloud platforms. Partnering with TechJini will further enhance our service in the mobility space and create a niche that will help us gain a competitive advantage," Rahul Kanodia, vice-chairman and chief executive officer of Datamatics, said in a statement.

Samvad Partners, Strata Consulting, and Nicety Management Consulting are advisers for the transaction.

TechJini, based in Bangalore and New Jersey, US, was founded in 2005 by Shyamal Mehta and Amit Rana. It claims to serve over 35 clients from domains such as media, engineering and manufacturing. For the financial year 2016-17, TechJini registered a consolidated turnover of Rs 35.02 crore, the filing shows.

Datamatics is a global provider of consulting, information technology, data management and business process management services.