Info-drive Software picks 51% stake in Technoprism for $5.1 million
Chennai-headquartered Info-drive Software Ltd, through its US subsidiary Info-drive Software Inc., has acquired 51% stake in Technoprism LLC, a leading software solutions firm based in San Jose, California for total consideration of US$ 5.1 million. Technoprism has been executing turnkey software projects and IP-led business applications development to some of the most recognized technology giants in California over the last nine years of its operation. The enterprise value of the company is US$ 10 million. Technoprism LLC aims to achieve revenues of US$ 5 million for the year ending December 31, 2008 and targets to achieve US$ 15 million for the year 2009 by having an offshore presence in India.