Date:26/08/2008 URL: http://www.thehindu.com/2008/08/26/stories/2008082655761600.htm

Business

Info-Drive buys into Technoprism

Special Correspondent

CHENNAI: Info-Drive Software has said that it has bought a majority stake in Technoprism LLC, a leading software solutions firm based in San Jose, California.

Consideration

Info-Drive, through its U.S. subsidiary, Info-Drive Software Inc., has taken a 51 per cent stake in Technoprism in an all-cash deal.

The total consideration for the 51 per cent stake is $5.1 million. The enterprise value of the company is $10 million.

Technoprism has been executing turnkey software projects and IP-led business applications development to some of the most recognised technology giants in Silicon Valley over the last nine years of its operation.

The firm, it is claimed, has a deep domain expertise in full lifecycle product development using varied platforms and databases, including Java, Oracle and a variety of middleware tools.

Arif Rahman, Chief Mentor, Info-Drive, said the clients would immensely benefit from Info-Drive’s array of services and offshore service delivery framework.

N. T. Shivkumar, COO, Info-Drive, said that Technoprism’s marquee client portfolio and robust prospect pipeline made it a compelling growth platform for realising the company’s aggressive business plan in North America.