Cigniti Technologies to raise Rs 48 crore for growth plans

18 Mar 2014

In a bid to fund its organic and inorganic growth plans, Cigniti Technologies is in the process of raising about Rs 48 crore through preferential allotment of shares.

Moreover, the company is looking at making an acquisition in the specialised testing space either in the UK or Australia for between $5 million and $20 million. Discussions are on and the company is hopeful of sealing a deal in the next six to nine months.

Cigniti Technologies, co-founded by Subramanyam in 1999, is based in Hyderabad with subsidiaries in the US and UK, it offers mature testing processes and methodologies that help ISVs and Enterprise IT organizations to achieve predictable, improved product quality levels, while reducing the time and cost associated with testing.

 

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