Pune: City-based based global consulting and solutions integration company Nihilent Technologies Limited has announced the completion of acquisition of ICRA Techno Analytics Ltd (ICTEAS), a Kolkata based data analytics, BPM and process engineering specialist services company.
The new entity, to be known as Nihilent Analytics Limited, seeks to address the group’s emphasis on data analytics and machine learning, which we believe is the future of enterprise transformation, says L C Singh, Vice Chairman and CEO of Nihilent.
As part of its expansion strategy, the company had announced its acquisition of CTEAS for Rs 68.75 crore ($10 million) in the month of August 2016. The deal complements the Nihilent Group’s digital transformation endeavours, by bringing in strong IP –backed expertise in data science, BI, machine learning among others. ICTEAS is a wholly owned subsidiary of the credit rating agency ICRA, a Moody’s investors service company.
Minoo Dastur, President and COO of Nihilent added, “The Nihilent Group is now equipped with a wide range of delivery capabilities, from enterprise IT services like application development, testing and package implementation to digital and enterprise transformation including analytics, BI, cloud, mobility and social.”
Prateep Kumar Guha, CEO of Nihilent Analytics said, “We are excited to be a part of the Nihilent Group, and confident that this integration will open up avenues through expanded geographical reach.”
Nihilent has also acquired full ownership of other entities of erstwhile ICTEAS, like ICRA Sapphire Inc, and BPA Technologies. The company, which received regulatory approval for its IPO in February, offers consulting and IT outsourcing services. Nihilent is 69.16 percent owned by Hatch Investments (Mauritius) Ltd. Hatch is an investment holding company jointly controlled by NTT-owned firm Dimension Data Protocol BV and South Africa’s Adcorp Professional Services Ltd. The company is a strategic partner of some of the major vendors such as Microsoft, SAP, Oracle, Dimension Data to name few.