ICRA Techno Analytics (ICTEAS), a wholly owned subsidiary of ICRA, is picking up a majority stake in BPA Technologies, Inc., a California-based global business consulting and software technology services firm with development centres in Chennai and Visakhapatnam, besides sales and customer service centre in Singapore. Focused on enterprise content management, enterprise portal and collaboration, BPA Technologies offers strategy consulting, implementation and application management services in its areas of specialisation. IMaCS was the sole transaction advisor to ICTEAS on this transaction.
The acquisition of BPA is structured in three tranches over a period of three years. The valuation of BPA would be performance-linked and is estimated at about $16 million. The turnover of BPA for the year ended December 31, 2011 was about $10 million.
ICRA is a leading financial/investment institution, commercial banks and financial service companies as an independent and professional investment information and credit rating agency.
