 "Sonata Software to acquire US-based I.B.I.S. for $14 mn")
Sonata Software, a Bengaluru-based information technology services company on Thursday said that it has signed a definitive agreement to acquire, supply chain software and services company Interactive Business Information Systems Inc (IBIS) for $14 million (Rs 92 crore). This comprises an upfront payment of $8.6 million in cash and $5.4 million earn-outs payable over two calendar years ending 2017.
Founded in 1989, Georgia-headquartered IBIS is a Microsoft Dynamics partner and delivers supply chain solutions including its proprietary advanced supply chain software solution. The buyout would enable Sonata to accelerate its global footprint as well as strengthen its Microsoft Dynamics partnership further.
“Together with IBIS, we now have a strong management team, world class Advanced Supply Chain Software for distribution firms, a solid referenceable customer base, and a strong and deep partnership with Microsoft in the US,” said Srikar Reddy, managing director & chief executive of Sonata.
In FY15, Sonata Software reported Rs 1,682 crore in revenues with a net profit of Rs 134 crore.
