Sonata Software, a global IT services company headquartered in Bangalore, India, has announced its plans to acquire the entire stake in Quant Systems, an IT services company based in Texas, USA.
This acquisition is in line with Sonata Software's strategy to expand its service offerings, strengthen its presence in the BFSI and healthcare & life sciences verticals, and build global centers.
The deal will see Sonata Software pay an upfront cash payment of $65 million, with additional payments of up to $95 million over the next two years, subject to the achievement of specified targets.
The acquisition of Quant Systems is expected to add two large clients to Sonata Software's top 5 clients list and enable the company to win larger deals in its focus-verticals.
Quant Systems has a strong management team with extensive experience in customer service and technological innovation in areas such as digital transformation, enterprise data, salesforce, data privacy, Snowflake, and Adobe. The company has been providing IT services to its clients in the USA for over 25 years, and has a proven track record of delivering high-quality solutions and services.
Samir Dhir, Managing Director and Chief Executive of Sonata Software, said that the acquisition of Quant Systems aligns with the company's strategic drivers, and will enable Sonata Software to achieve its vision of building scale through service offering expansion in modernization, investing in BFSI and healthcare & life sciences verticals, and building global centers.
Dhir added that the acquisition will help Sonata Software win larger deals in its focus-verticals, and strengthen its position as a leading IT services provider in the USA.Sonata Software is a global IT services company that provides end-to-end digital solutions to clients in various industries, including retail, distribution, manufacturing, and travel.
The acquisition of Quant Systems is expected to enhance Sonata Software's capabilities in the areas of digital transformation, enterprise data, salesforce, data privacy, Snowflake, and Adobe.
With this acquisition, Sonata Software will be able to provide a wider range of IT services to its clients, and strengthen its position as a leading IT services provider in the USA.
The acquisition of Quant Systems by Sonata Software is a strategic move that aligns with the company's vision of expanding its service offerings, strengthening its presence in the BFSI and healthcare & life sciences verticals, and building global centers.
With this acquisition, Sonata Software will be able to provide a wider range of IT services to its clients, and strengthen its position as a leading IT services provider in the USA.
