Comments
Mphasis on Thursday said it has acquired Stelligent Systems LLC in an all-cash deal valued at USD 25 million (about Rs 175 crore).
On Friday, MphasiS shares were quoting at Rs 920.60, down Rs 9.90 or 1.06 per cent, against Thursday’s close of Rs 930.50 on the BSE at about 10.40. In early trade the shares had hit a high of Rs 940.40.
Headquartered in Reston, US, Stelligent provides DevOps and DevSecOps solutions on Amazon Web Services (AWS). Mphasis has acquired Stelligent from Hosting.com Inc that had bought the company in March last year, Mphasis said in a BSE filing.
The acquisition is expected to provide access to strategic proposition in Cloud DevOps and DevSecOps within AWS ecosystem, the filing said.
The value of the deal is “up to USD 25 million including employee retentions”, the filing said.
DevOps refers to a methodology that combines software development with IT operations.
Founded in 2007, Stelligent has been providing enterprises, including Fortune 500 companies, with integration and delivery solutions on AWS. It has a team of over 50 engineers. The advent of public cloud infrastructure and SaaS software has elevated the importance of rapid automation in product development and product engineering for enterprises moving to the cloud, Mphasis CEO and Executive Director Nitin Rakesh said.
“This (acquisition) allows us to join forces with an equally technically-deep company, bringing innovative, in-depth cloud solutions to enterprises in all Mphasis client segments,” he added.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.