Datamatics Global acquires 72% stake in Cignex

17 Aug 2011 Evaluate

Datamatics Global Services, a Global Information Technology (IT) and Knowledge Process Outsourcing (KPO) organization has acquired about 72% stake in California-based IT firm Cignex for $17.39 million cash deal from its internal funding. The said acquisition gives the company access to three new markets, California, Singapore and some part of Middle East.

This acquisition is strategic expansion of the company’s business as it has business segment providing similar solutions. Cignex provides content and document management IT solutions based on open source software for businesses.

Recently, the company reported a growth of 38.40% in consolidated net profit at Rs 6.70 crore for the first quarter ended on June 30 as compared to Rs 4.84 crore during same quarter in 2010-11.

Datamatics is a premier provider of end-to-end BPO and IT solutions spanning consulting, technology architectures and business process management. It builds customized solutions for industry verticals like Banking and Finance, Insurance, Manufacturing, Online Retail, Research, Healthcare, Government, Not-for-Profit / Charitable Organizations, Telecom, Transportation, Hospitality, Energy and others.

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