Computer Sciences Corp. (CSC) has acquired venture capital-backed AppLabs Technologies Pvt. Ltd, the Hyderabad-based world's largest software testing and quality management company, for an undisclosed sum.
Although CSC did not reveal the deal size, AppLabs generated revenues of around Rs500 crore ($110 million) and the Sashi Reddi founded company is likely to be valued around Rs1,250 crore ($260 million).
Virginia-based CSC, which had 2010 revenue of $16.2 billion, provides innovative customised information technology (IT) solutions to clients by combining cutting edge technologies with domain expertise in the financial services sector including property and casualty insurance, life insurance, banking and healthcare industries and outsourcing software.
CSC, which ranks among the largest outsourcing companies in the world, said that AppLabs brings a strong portfolio of emerging technologies, proprietary methodologies and tools, and a specialised sales force.
AppLabs will complement CSC's expertise in financial services, healthcare, manufacturing, chemical, energy and natural resources and technology and consumer verticals.
Founded in 2001 in Hyderabad by Sashi Reddi with initial funding from venture capital irm Sequoia Capital, AppLabs offers rigorous risk mitigation processes, a singular focus on quality, expert project management, communication and global delivery capabilities. It was the first software testing company to get appraised at SEI CMMI Level 5, the highest quality standard attainable in software engineering.