Kovai Ltd, which operates business-to-business software-as-a-service product company Kovai.co, said Thursday it has acquired Cerebrata Software Pvt. Ltd.
Kovai.co, has acquired all the assets, intellectual property and team of Cerebrata as part of the transaction, the Coimbatore-based company said in a statement without disclosing the deal value.
The Cerebrata brand will remain independent for some time due to its historical brand value, it added.
Saravana Kumar, founder and CEO of Kovai.co, said the acquisition is likely to trigger an additional 15-20% revenue growth for the company.
Kumar said there is huge potential for cross-selling opportunities between the customer base of the two companies as its product Serverless360 and Cerebrata’s product Cerulean are complementary to each other.
Serverless360 is designed to help teams manage their production systems deployed in Microsoft Azure efficiently. Cerulean is made to help individual developers manage their Microsoft Azure deployments.
Kovai.co, which has offices in Coimbatore and London, helps enterprises manage and monitor their Microsoft BizTalk and Azure Serverless environments.
Cerebrata was founded in 2007 by Gaurav Mantri. The company was later acquired by Red Gate in 2011. Subsequently in 2016, Mantri bought back Cerebrata. The company has built products allowing developers to easily manage, govern, and optimize their Microsoft Azure environments.
Deals in the SaaS space
The SaaS space has recorded a slew of funding transactions. Companies in the segment are using their stacks to address gaps within traditional ecosystems and introduce new products and services.
Earlier this week, Pivoting Softwares Pvt Ltd, which operates client lifecycle software-as-a-service firm Clientjoy, raised about Rs 6 crore in a pre-Series A round.
Last month, cloud-based business applications developer Tekion Corp. raised around Rs 1,104 crore in a Series C funding round that was led by Advent International. The round catapulted the California- and Bengaluru-based firm into the unicorn club of startups.
Also in October, supply chain automation platform Supplynote raised around Rs 4.4 crore in a bridge funding round from a clutch of investors including the US-based SOSV and Australia’s Artesian Ventures.
In September, sales acceleration platform SquadStack raised $5 million in a Series A round led by Chiratae Ventures, with participation from Blume Ventures.