*Prithvi Information Solutions *has acquired US-based *Percentix Inc.*, for $3 mn in cash. The balance would be payable through earn-outs, depending on performance.
Percentix is a business intelligence consulting firm specialising in enterprise performance management. Prithvi expects the acquisition to add $6.25 mn revenue for the year 2010-2011. Transaction Note Prithvi Info is already present in the business intelligence sector. The company expects synergies through the cross-selling and up-selling of services to their existing clientele. The company aims reach $1bn mark in revenues through this strategy. The company's Business intelligence unit implements Cognos and Microstrategy software platforms for its clients, and they have been doing so for 5 years. PISL is headed by VV Rama Rao, a school teacher-turned-businessman with close political ties. His daughter Madhavi Vuppalapati and son Satish Kumar hold top positions in the company. Prithvi Information Solutions is Andhra Pradesh’s second largest IT firm. They have been recently issued summons by a city criminal court in a Rs 200 crore alleged fraud case that involves unpaid dues to a leading Japanese corporation. *Deutsche Bank *has charged PISL with a Rs 31.95-crore fraud in June 2009. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
