Japan's TechnoPro acquires Udupi-based Robosoft Technologies for Rs 800 Cr
Japan's TechnoPro Holdings, Inc has agreed to acquire 100 percent of Udupi-based digital solutions company Robosoft Technologies for Rs 800 crore.
Robosoft Technologies delivers digital solution services, mainly to clients in the US, Japan and India, which will become a subsidiary of TechnoPro in the two-phased transactions: 80 percent in the first tranche and the remaining 20 percent in the second one approximately one year later. With Design Thinking and UI/UX at its core, Robosoft leverages emerging digital technologies such as AI/ML, IoT, 5G and VR/AR,
The company employs more than 800 engineers with a mission of “simplifying lives with delightful digital experiences”, providing one-stop digital solutions such as digital advisory, UI/UX design, engineering services, analytics, middle/back-end development to customers located in the United States and Europe, Japan and India.
In its announcement, TechnoPro said that the purpose of the acquisition is to identify the digital solution delivery services to the clients in the developed countries utilising overseas offshore hubs as one of the pillars of the growth strategy. "The purpose of the share acquisition is to promote this growth strategy by acquiring the Indian offshore core hub and the capability of technology and solution in a digital field," it added.
TechnoPro intends to work in collaboration with Robosoft to generate synergy effects such as gaining and expanding customer base in Japan of Media, BFSI, and Retail/EC industries; utilising the existing solutions of Robosoft; developing and providing TechnoPro’s customers such as manufacturers with digital solutions that combine Robosoft’s unique offerings of advisory and UI/UX design and TechnoPro’s existing technologies; leveraging Robosoft’s engineers at domestic on-site and offshore; and nurturing TechnoPro’s engineers in a digital sphere, given the tight supply of digital-savvy engineers in Japan, it said in a statement.
Robosoft was started in 1996 by Rohith Bhatt, and has been backed by investors including Kalaari Capital and Ascent Capital. Robosoft has accelerated its growth during these three years by succeeding in gaining major accounts in the United States and Japan, and realised the revenue growth of more than 89 percent YoY and the EBITDA growth of more than 165 percent YoY, with achieving the EBITDA margin of 40 percent, in the latest fiscal year.