Japan’s TechnoPro buys Robosoft for ₹805 crore

Japanese technology-focused staffing and services firm TechnoPro Holdings has bought Udupi-based digital transformation solutions provider Robosoft Technologies for an estimated ₹805 crore. The deal has been structured in two tranches. TechnoPro will purchase 80% stake in Robosoft in the first tranche for ₹580 crore, and buy the remaining by July next year.

The purchase price for the first tranche is calculated based on Robosoft’s earnings before interest, tax, depreciation and amortisation (Ebitda), and net cash balance as of the financial year ended March 31 this year.

The share price for the second tranche is estimated on its financial forecast. The actual amount may vary based on its performance in the financial year ended March 2022. Robosoft will continue to be led by its current management team headed by Ravi Teja Bommireddipalli, who is being elevated to managing director and CEO, TechnoSoft said. Founder Rohith Bhat will exit to focus on his other ventures like 99games and Global Delight that were spun off in 2015. Founded in 1996, Robosoft offers end-to-end solutions across various functions like product advisory, design, engineering and analytics. Apple Inc was its first customer.

Robosoft has built mobile apps for a slew of top Indian and global internet brands over the years.

McDonalds, ESPN, HP, Aviva, Warner Bros, Network18, SonyLiv, The Times of India, Lego, Target, Namshi and Vodafone are among its other clients.The Times of India is owned by the Times Group, which also publishes The Economic Times.