NIIT Tech's Incessant to acquire 55pc interest in US-based RuleTek
Incessant Technologies, an NIIT Technologies company, on Wednesday announced that it has signed a definitive agreement to acquire 55-percent interest in US-based RuleTek LLC.
Incessant Technologies is a leader in digital integration and agile delivery of enterprise BPM solutions while RuleTek is a BPM architecture services company with a track record of successful implementations for Fortune 500 companies.
Headquartered in Meridian, Idaho, RuleTek is a fast-growing business serving customers in the US, with about 65 employees. The company reported revenues of $6.47 million for FY2017.
This transaction will enable Incessant to strengthen its digital integration capabilities, expand its footprint in the high-opportunity North American market, and add near-shore capabilities to its existing delivery model, it said in a statement.
This transaction will be margin and earnings accretive. It will also provide the clients of Incessant and RuleTek access to over 500 certified consultants.
"RuleTek is a perfect match for us, offering substantial synergies to accelerate our growth in the North American market. This transaction also strengthens our position as a leader in Digital Orchestration and Enterprise iBPM solutions," said Incessant Technologies CEO Vijay Madduri.
Korby Wright and Mark Covrig, Managing Directors, RuleTek said, "We are excited to join forces with Incessant, which will enable us to better serve our clients with the combined capabilities of both organizations." This transaction will be margin and earnings accretive. It will also provide the clients of Incessant and RuleTek access to over 500 certified consultants.
Arvind Thakur, Joint MD, NIIT Technologies said, "This initiative enhances our near-shore capabilities in line with the intent to service our US clients with a well-rounded delivery model involving onsite, offshore, and near-shore capability."