Tech staffing agency TechnoPro to buy Indian software firm Robosoft
TOKYO, NNA - TechnoPro Holdings Inc., a Japanese technology-focused staffing and service company, will acquire Indian software development firm Robosoft Technologies Pvt. Ltd.
TechnoPro is scheduled to take an 80 percent stake in Robosoft by late August and the remaining 20 percent by July 2022 under an agreement signed Tuesday. The acquisition will cost 8.05 billion rupees ($108 million), a TechnoPro spokesperson said.
The Tokyo-based company aims to create an offshore hub for the fast-growing digital solutions field through the buyout of Robosoft, which offers varied one-stop solutions services to customers mainly in the United States, Europe, Japan and India.
More than 800 engineers work for the company, which was founded in 2000 and is based in Udupi in the southern state of Karnataka. It has outsourcing bases at its headquarters as well as Bengaluru, formerly known as Bangalore, and Mumbai.
TechnoPro hopes the acquisition will help improve its solution proposal capabilities and enable the company to broaden its customer base in wide-ranging sectors, including the Japanese media and financial industries.
For the business year to last March, Robosoft posted net sales of 1.84 billion rupees, up 88.9 percent from the year before, and a net income of 494 million rupees, 2.7 times higher than the previous year, according to TechnoPro.
About 45 percent of its sales were posted in the United States, 24 percent in Japan, 23 percent in India and 8 percent in the European, Middle Eastern and African markets combined.
TechnoPro currently operates its business in India through Boyd & Moore Executive Search K.K., a staffing agency acquired in 2017, Helius Technologies Pte. Ltd., an engineering staffing agency bought in March 2018, and TPRI Technologies Pvt. Ltd., an engineering contractor set up in 2019. (NNA/Kyodo)