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ThreeSixty Logica Acquisition of Majority Saksoft

CHENNAI, JAN 1:

Saksoft Ltd has acquired a 51 per cent stake in ThreeSixty Logica Testing Services, a privately held independent software testing service company, for an undisclosed sum to strengthen testing and quality assurance (QA) service offerings.

ThreeSixty is in the mobile QA segment, with most of its customers in the US and UK, which are also focus markets for Saksoft. The management team of ThreeSixty Logica will continue to run the company as Saksoft would like to benefit from their entrepreneurial skills and knowledge of the testing domain, Aditya Krishna, CEO, Saksoft, a Chennai-based information management solutions company, toldBusinessLine.

“There is considerable potential in the testing business and this acquisition will help Saksoft grow faster. This is in the backdrop of demand for independent testing services growing at a rapid pace in the social, mobile, analytics and cloud and e-commerce environment,” he said in a release to the Bombay Stock Exchange (BSE).

ThreeSixty offers software testing programmes and solutions for independent software vendors, software product firms and small and medium companies.

Range of clients

Its clients, including Forbes and Cisco, are in sectors such as finance, information technology, telecom, e-commerce, healthcare, manufacturing and retail, according to the company’s website.

Niraj Ganeriwal, CFO, Saksoft, told BusinessLine that in the future, there is scope to acquire a 100 per cent stake in ThreeSixty. While Saksoft has nearly 600 employees, ThreeSixty has about 150.

For the quarter ended September 2014, Saksoft reported a net profit of ₹2 crore on revenue of ₹12 crore.