Chennai's Servion Global acquires California's 5by5
19 Jan 2006
Chennai: The city-based Servion Global Solutions has acquired the California-based privately held 5by5 Networks Inc for an undisclosed amount. Both the companies software developers for customer interaction management.
According to K Balakrishnan, managing director and CEO, Servion Global, the acquisition would be funded from internal accruals.
Balakrishnan also said that the American company had invested around $21 million in research and development but the acquisition price is lower than that Eventually, the Indian company plans to merge 5by5 with itself.
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