Glodyne acquires US co for $3.34 mn in cash
Glodyne Technoserve to buy US-based Front Office Technologies Inc at $3.34 million in an all-cash deal.
By PTI |
MUMBAI: Technology services organisation, Glodyne Technoserve, has entered into a stock purchase agreement to acquire a 100 per cent stake in US-based Front Office TechnologiesInc at an estimated $3.34 million in an all-cash deal.
Front Office Technologies has rich expertise across different verticals in the infrastructure management services space and the acquisition will add key new relationships in the banking and finance, media and FMCG domains in the US to Glodyne's technology IMS business, a release issued here today said.
Front Office has clients such as American Express Bank, StandardChartered Bank, Ogilvy and Mather Worldwide, Bartie Bogie Hegarty, Sotheby's and Alchemy, among others.
Glodyne Technoserve's Chairman and Managing Director Annand Sarnaaik said the acquisition was a strategic initiative to penetrate high-value verticals in the US for the company's technology IMS business.
"The acquisition lends significant synergies to our US operations with the benefits of expert IMS professionals and key market relationships of Front Office Technologies," he said.
Front Office CEO Russel Rothchild said the company hopes to compliment Glodyne capabilities and solutions in the infrastructure management space with its strong presence in the US market to create a winning proposition for clients.
Front Office Technologies has rich expertise across different verticals in the infrastructure management services space and the acquisition will add key new relationships in the banking and finance, media and FMCG domains in the US to Glodyne's technology IMS business, a release issued here today said.
Front Office has clients such as American Express Bank, StandardChartered Bank, Ogilvy and Mather Worldwide, Bartie Bogie Hegarty, Sotheby's and Alchemy, among others.
Glodyne Technoserve's Chairman and Managing Director Annand Sarnaaik said the acquisition was a strategic initiative to penetrate high-value verticals in the US for the company's technology IMS business.
"The acquisition lends significant synergies to our US operations with the benefits of expert IMS professionals and key market relationships of Front Office Technologies," he said.
Front Office CEO Russel Rothchild said the company hopes to compliment Glodyne capabilities and solutions in the infrastructure management space with its strong presence in the US market to create a winning proposition for clients.
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