Secure cloud solutions and managed services provider 8K Miles Software today announced the acquisition of US Healthcare Information Technology firm Cornerstone Advisors Group LLC for USD 10,250,000 (about Rs 70 crore).
"The company's US subsidiary 8K Miles Software Services Inc has entered into a definitive agreement to acquire Cornerstone Advisors Group, LLC...For USD 10,250,000 inclusive of earnout payments as a combination of cash and stock from the 8K Miles US subsidiary," the company said in a BSE filing.
This acquisition is subject to customary closing conditions and is expected to to be over in the quarter ending March 31, 2017.
Cornerstone Advisors Group LLC is a privately held firm based in Georgetown, Connecticut.
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