Azur Global acquires Chennai-based Sybrant Technologies

Company also announces its entry into the Indian market

Chicago-based Azur Global, an IT services and solutions provider, announced its entry into the Indian market and its acquisition of Chennai-based Sybrant Technologies Limited, a digital technology and User Experience boutique that builds multi-channel internet products. Both the companies did not disclosed the value of the acquisition.

Azur, which has 50 per cent of its offshore work force in Chennai and Hyderabad, said that the company would look at more such acquisitions with a size of around $45-50 million, said Ranghan Venkatraman, founder and CEO of Azur Global.

"This acquisition brings into our fold highly specialized and focussed expertise across mobility, e-commerce and web systems, whilst simultaneously providing extremely high end User Experience capabilities, which given Azur's focussed and superior sales and marketing engine and marquee client base, will help us drive higher levels of performance and client breakthroughs," he said.

"We not only gain access to Sybrant's highly talented teams, but also to a set of long standing client relationships, who will greatly benefit from Azur's diverse set of services, industry expertise and ideas".

Venkatraman added, this acquisition would provide critical technologies and building blocks that enhances Azur's differentiated go-to-market by enabling services that will help its clients harness 'digital' to gain a competitive advantage and disrupt their marketplace.

Besides bringing half a dozen clients, Sybrant Technologies will bring 100 professionals to Azur said, Venkatraman, adding that V Thiyagarajan, Founder, Sybrant Technologies will be the managing director of Azur India. Currently the two offshore centres at Chennai and one in Hyderabad houses around 400 people, which is 50 per cent of Azur's global workforce.

Azur works mainly with Fortune 100 companies and its revenues stands at around $30 million and targets $100 million next year. The acquisitions which are on the cards would take the company to $500 million over the next few years.

Venkatraman said, company's contract size is around $5-20 million.

While for now the investments are funded through internal accurals, Venkatraman said the company is open for investors who can be a "good partner".

Thiyagarajan said with this acquisition, Azur will make its presence strongly felt in India through the expansion of its delivery capabilities, digital building blocks, client base and employee headcount.

As an initial step, Azur will be targeting customers who are looking for innovative and creative digital solutions and who can benefit from the magic Azur produces by operating at the intersection of craft and technology.