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Acropetal Technologies gets approval to acquire MindRiver Information Technologies and Kinfotech

28 May 2011 Evaluate

Acropetal Technologies has received approval for acquisition of two companies - MindRiver Information Technologies and Kinfotech at its board meeting held on May 27, 2011. The company has acquired 100% equity of MindRiver Information Technologies and 51% stake in Kinfotech for a cash consideration of Rs 9.50 crore and Rs 5.10 crore respectively.

Besides, Acropetal Technologies has entered into definitive agreements to acquire 100% equity in Line Beyond Inc and 70% of the equity in Optech Consulting Inc for a consideration of $4.90 million each. Line Beyond Inc based out of Bay area, CA, USA  is valued at $5 million while Optech Consulting Inc, head quartered in Dallas, Texas, USA is valued at $7 million.

Acropetal Technologies offers a broad spectrum of Engineering Design Services to reduce product design cycle time and costs. The portfolio of services includes concept design, product design and development, advanced analysis, reliability engineering and value engineering. Product quality improvement, idea generation, product teardown, material cost out, product re-design, back office support to accomplish 2D Drawings, Data Conversion and 3D Modeling are the value added services offered to our customers.

MindRiver Information Technologies an IT services company is engaged in IT Infrastructure Management Services, Remote Infrastructure Management Services, IT Infrastructure Consulting, and IT Systems Integration while Kinfotech is a company specialized in providing various security and other solutions like Network Management and Asset management.

Peers
Company Name CMP
TCS 2522.55
Infosys 1242.60
HCL Tech. 1277.20
Wipro 202.95
Tech Mahindra 1420.40
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