Monday, April 1, 2013 The Economic Times , The Hindu Business Line
Software services exporter Zensar Technologies today said it has completed the acquisition of US IT firm Akibia Inc.
In November 2012, Zensar, a RPG group firm, had announced it will acquire Akibia, for USD 66 million.
In a filing to the BSE, Zensar "announced rebranding of the Infrastructure Management Services (IMS) business unit, formerly known as Akibia Inc to Zensar Technologies, as the final phase of the strategic acquisition made in November 2010."
Several key executives have been appointed to further enhance and grow IMS business, including Vivek Gupta as Chief Executive (Global IM business) and Doug Fallon as Vice President (US Sales), it added.
Besides, Zensar Technologies Senior Vice President and Global Head (IM Consulting Practice) Ankit Ghosh will maintain responsibility for driving the growth and expansion of the firm's global Infrastructure Management service offerings.
Scott Fiore, Vice President of Global IM Operations, will continue to lead Zensar's global technical support, logistics, and field engineering teams as well as the consulting and professional services functions. In addition Fiore will also continue to lead Zensar's IM alliance sales organisation.
"Today Infrastructure Management drives many of our large deals and I am very confident that it will be IM that will power the growth story of Zensar to the billion dollar goal in 2017," Zensar Technologies CEO and Vice-Chairman Ganesh Natarajan said.
The IMS business unit currently comprises 33 per cent of Zensar's overall revenue and the continued growth of IMS will play a pivotal role in Zensar's corporate growth strategy, Zensar Technologies Chief Executive (Global IM business) Vivek Gupta said.
The acquisition will diversify Zensar's information security business by adding Akibia's system integration and consulting expertise in the fast growing network security, compliance and risk management markets.