Larsen & Toubro Infotech officially purchases Ruletronics for $7.48M
Author : Saipriya Iyer | Published Date : 2019-01-20
- The acquisition of Ruletronics marks LTI’s third acquisition since it went public.
- The purchase is expected to strengthen LTI’s expanding digital business.
Larsen & Toubro Infotech has reportedly made it to the front page for having taken over CRM solution provider Ruletronics. Official sources confirm that the deal has been signed for an enterprise value of around INR 53 crore (approximately USD 7.48 million). This remuneration, payable for the takeover of Ruletronics’s 100% share capital, is inclusive of up-front consideration and earn-outs, claimed the firm in a BSE filing.
According to The Economic Times, this is LTI's third acquisition ever since the firm went public in the year 2016. Earlier, LTI had purchased Syncordis Consulting, Temenos’s leading implementation partner, based in Luxembourg, and the Pune-based analytics start-up AugmentIQ.
As per reliable sources, Ruletronics is known to provide innovative customer relationship management and business process management solutions by leveraging the 'Pega' Platform to enable businesses to transform and evolve digitally. The company also delivers product-based offerings for KYC bulk remediation, insurance sales and service applications, as well as disability claims management, says an anonymous source.
A statement by LTI affirms that the acquisition will indeed prove to strengthen the firm’s rapidly growing digital business via Pega’s suite of capabilities, that will enable the company to establish a BPM roadmap and strategy, RPA, and customer services.
Ruletronics reportedly holds industry expertise in the banking, healthcare, insurance, and retail industries. In FY 18, the firm reported revenues of USD 3.35 million.
The closure of the transaction in question – paid completely in cash, is anticipated to be completed within the next two months.
About Larsen & Toubro Infotech:
Larsen & Toubro Infotech, a global technology consulting & digital solutions company, boasts of operations in around 30 countries. The company is completely committed to accelerating digital transformation for their clients with firm’s Mosaic platform that helps enable the clients’ social, mobile, IoT, analytics, and cloud journeys.
About Author
Saipriya Iyer . .
Saipriya Iyer presently works as a content developer for fractovia.org. Having dabbled with the domain of content creation for nearly half a decade, she now boasts of an enviable portfolio, holding substantial experience in penning down pieces related to technology, finance, and a wide spectrum of other industry verticals. A qualified computer engineering graduate from the University of Pune, Saipriya can often be found leveraging her knowledge of software technology and electronics in her write-ups. She can be contacted at- [email protected] | https://twitter.com/saipriya_i
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