Netrix LLC aims to explore India and Europe; US company acquires two Kochi-based IT firms
The acquisition of two Indian IT service providers in cloud service and mobile application by a US company is an inspiring news for all the IT start-ups in the India. Netrix LLC, the North American IT company, acquired the Kochi-based Ideamine Technologies and Empressem Technologies. It is the biggest acquisition among the IT service companies in Kerala. The acquisition has been carried out on the equation of cash and share.
It is noticeable that the Chicago-based Netrix LLC has done the acquisition in the growing niche market in India, including cloud services. With this acquisition, Netrics aims to explore the potential IT market in India and Europe. The efforts of Ideamine founder Jyothis and Empressem co-founder Ajeesh Kumar to find investment for the company have led to the acquisition.
The historic acquisition was realised only after due diligent preparations of several months. Foreign companies are keenly watching Indian IT-based companies for making investment and acquisition if there are clear financial planning, impressive monthly recurring revenue and consistent client relations.