Accel has acquired the IT Services Business comprising IT Infrastructure Management Services business of Computer Factory India (CFIL) as a going concern basis. After this transaction, all the existing businesses of Computer Factory will be run under Accel, as Accel IT Services. Earlier, on January 1, 2020, Accel had acquired Computer Factory India in an all-cash deal, thereby making it a wholly owned subsidiary of Accel.
As CFIL's IT Services business along with Accel’s IT Services business will bring synergies, the Board has approved the purchase of the IT Services business of Computer Factory India, effective from April 1, 2020, on a slump sale basis. The transfer of business has been done in such a way that the entire business along with its assets, customer base, contracts and employees will be transferred to Accel Limited as a going concern basis. The new entity will be known as Accel IT Services, which will be a division of Accel.
The company currently operates through three business divisions namely, Systems and Services, Ushus Technologies and Accel Animation Studios. The product range of the division is a combination of custom-built hardware and application software.
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