Zensar Technologies and the management of Cynosure Inc., have entered into definitive agreement to acquire the US based Cynosure Inc. The company will acquire the entire share capital of Cynosure Interface Solutions (Cynosure India) and its wholly owned subsidiary, Zensar Technologies Inc. will acquire the entire share capital of Cynosure Inc. The acquisition will be funded by a mix of internal accruals and external debt and will be EPS accretive for the Company.
Cynosure focuses on providing Guidewire platform implementation services to Property and Casualty (P&C) insurance carriers and had 2017 revenues of about $20 million. The addition of Cynosure will enable Zensar to have platform capabilities for the insurance segment that will position the company to grow faster in the fast-growing Insurance software market.
Zensar Technologies operates as a software service company. It is engaged in software development, networking, e-commerce, and systems integration services. It also provides consulting, collaboration services and business process outsourcing services.
