Aztec Software to acquire Disha for $12.1 million
By Our Corporate Bureau | 21 Sep 2004
Bangalore: Aztec Software and Technology Services Ltd will acquire Disha Technologies in a $12.1-million stock and cash deal. The company will pay $9.6 million in cash and $2.5 million in stock towards the acquisition of the software product-testing firm.
This move would enable Aztec to enter testing services. The acquisition itself is part of the company's growth strategy to strengthen its service offerings. V Chandrasekaran, managing director, Aztec, said the acquisition "is a strategic response to our customers' needs to manage rapid product development, while maintaining independence in testing."
According to Shirish Netke, vice-president, sales and marketing, Aztec, testing has emerged into a booming market over the last one year, given the speed "in which software products are being launched with new releases slated every quarter, and this has made testing a pre-requisite for a quick go-to-market." Globally, the testing services market is currently estimated at $3 billion with offshore testing pegged at $600 million.