M&A

M&A

Sonata Software to acquire US-based Quant Systems in $95-M deal

BSE Announcement  

Bengaluru-based publicly-listed Sonata Software is to acquire Irving, TX (USA)-based IT services company, Quant Systems Inc. Sonata will make an upfront cash payment of USD 65 million, and up to USD 95 million over the next two years. Quant Systems Inc had reported a turnover of USD 37 million for CY2022. It employs over 300 engineers. The deal is expected to strengthen Sonata's capabilities in enterprise data analytics, cloud modernisation, cyber security, data privacy, digital & mobile app solutions, platforms of Salesforce, Adobe and Snowflake, as well as differentiated IPs for Salesforce (workbox.io) and chatbot technologies (Lisa). Quant Systems also brings domain expertise in Banking and Financial Services, Healthcare & Life Sciences, and Consumer/Retail serving Fortune 500 clients.