Saturday, October 31, 2009

KPIT Cummins $38M Merger Deal With US-based Sparta

KPIT Cummins Infosystems Ltd, a Pune-based IT consulting firm, has entered into a merger agreement with Sparta Consulting for $38 million (Rs 180 crore) in an all cash deal. Sparta is a US-based firm providing high-end SAP solutions for enterprises, and has a strong presence in North America.

Kishor Patil, MD & CEO, KPIT Cummins, said, with the rapidly scaling up of ERP consulting business, the company sees large market opportunity in the space. “Sparta team has created a SAP services business, which has grown nearly 300% year-on-year, apart from creating another enterprise business worth $250 million. We look forward to work jointly to help customers achieve their post-downturn growth objectives,” said Patil. 

To read more, please, visit VCCircle

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