ICRA Techno Analytics Limited (ICTEAS), the Kolkata-headquartered software solutions company promoted by the Indian rating major ICRA Limited, is picking up a majority stake in BPA Technologies, Inc., a California-based global business consulting and software technology services firm with development centres in Chennai and Visakhapatnam, besides a sales and customer service centre in Singapore. Focused on Enterprise Content Management, Enterprise Portal and Collaboration, BPA offers strategy consulting, implementation and application management services in its areas of specialisation. IMaCS was the sole transaction advisor to ICTEAS on this transaction.
The acquisition of BPA is structured in three tranches over a period of three years. The valuation of BPA would be performance-linked and is estimated at approximately USD 16 million. The turnover of BPA for the year ended December 31, 2011 was about USD 10 million.
To read the full story click on the attachment: Press Release (8-5-12) Final
Source: ICRA Press Release