Infogain Corp pays Rs180 cr for Blue Star’s IT business
01 Oct 2015
Infogain Corp, an IT services company backed by private equity firm ChrysCapital, has acquired the IT business of Blue Star Infotech for Rs180.80 crore, the company announced on Wednesday.
"Blue Star Infotech's IT assets are an ideal fit for Infogain with the vision of creating a leading new-age digital services platform with combined capabilities in cloud, mobility, SAP, analytics and product engineering. We expect the combined company to grow to $500 million in revenues, through organic and inorganic growth, within the next five years," Sanjay Kukreja, managing director at ChrysCapital said.
Kapil Nanda, chief executive officer of Infogain, will continue in his current role until July. Sunil Bhatia, chief executive officer and managing director at Blue Star Infotech, will join Infogain's management team as its CEO designate, and will assume his new responsibilities as CEO of the combined entity on 1 July 2016. At that time, Kapil Nanda will transition to his role as full-time Executive Chairman.
"The combined entity will have revenue of over $150 million, close to 4,000 employees and eight delivery locations globally," the company said in its statement.
Blue Star Infotech, which is listed on the Indian stock market, is the IT arm of air-conditioning and commercial refrigeration company Blue Star.
