Robosoft Technologies, a Udupi-based digital transformation solutions provider, has become a subsidiary of Tokyo’s global digital solutions services firm TechnoPro, reportedly for Rs 805 crore.
The sale of the Company’s 100% stake is to be executed in two transactions. 80% in the first transaction, which is estimated to be Rs 580 Crore and the remaining 20% in the second transaction reportedly one year later.
Rohith Bhat, the founder and managing director of Robosoft said that Robosoft had an astonishing journey over the last two decades. It has overgrown during this period. And, The partnership with Ascent Capital and Kalaari Capital points to a strong growth era for them. He is delighted that they are handing over the Company’s controls to a global player like TechnoPro.
Ravi Teja Bommireddipalli, Robosoft CEO said, this transaction represents a strategic evolution for Robosoft and a unique opportunity to take their business to new heights at a time of accelerating digital adoption. Partnership with TechnoPro will provide the chance to grow in Japan, which is on a path of Digital Transformation while extending in their core markets of the US, Europe and India through their unique “Emotional Design Thinking” approach. This deal is a strong validation of Robosoft’s vision and strategy and its strong track record. They will continue to innovate and drive digital transformation for their clients worldwide.
Robosoft’s current management team, headed by Chief Executive Officer Ravi Teja Bommireddipalli, who is also elevated to Managing Director and CEO, will continue to lead the way.
Takeshi Yagi, the president and representative director and CEO of Tokyo Stock Exchange-listed firm TechnoPro said that TechnoPro is delighted to invest in Robosoft, an innovative leader in the Digital Transformation space. They are excited by Robosoft’s rapid growth, strong leadership team, expertise in emerging technologies and deeply integrated customer relationships. They look forward to a close collaboration with Robosoft in the Company’s next phase of growth and see tremendous synergies between TechnoPro and Robosoft.
TechnoPro Group is one of Japan’s most prominent technology solutions groups, specializing in IT, Engineering and R&D. The share acquisition aims to encourage this growth master plan by obtaining India’s offshore core hub and the ability of technology and solution in a digital field. Furthermore, Robosoft & TechnoPro partnership will provide Robosoft with a chance to grow in Japan, which is on a path of Digital Transformation while extending in their core markets of the US, Europe and India through their unique “Emotional Design Thinking” approach.