Japan’s TechnoPro acquires Udupi-based Robosoft for Rs 805 crore

Japanese technology-focused staffing and services firm TechnoPro Holdings has bought Udupi-based digital transformation solutions provider Robosoft Technologies for an estimated Rs 805 crore.

The deal has been structured in two tranches. TechnoPro will purchase 80% stake in Robosoft in the first tranche for around Rs 580 crore, and buy the remaining by July next year.

The purchase price for the first tranche is calculated based on Robosoft’s earnings before interest, tax, depreciation and amortisation (Ebitda), net cash balance and so forth, for the financial year ended March 31 this year

The share price for the second tranche is estimated on its financial forecast. The actual amount may vary based on its actual financial results in FY22.

Robosoft will continue to be led by its current management team headed by Ravi Teja Bommireddipalli, who is being elevated to managing director and CEO, TechnoSoft said.

Founder Rohith Bhat will exit to focus on his other ventures like 99games and Global Delight that were spun off in 2015.

Source-Economic Times

 

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