Mumbai, Feb 23 (UNI) Zensar Technologies, India's leading IT service providers and a major player in the Oracle space today announced the completion of its cent per cent acquisition of ThoughtDigital, in an all cash deal of 24.9 million dollars.
Zensar envisions great synergies with ThoughtDigital in the Oracle space, given its rapid growth for its EAS Business in the US market.
''We are excited to be a part of the Zensar family. Zensar's mature offshoring and its proven Oracle capabilities will make us more competitive in the US Market space,'' ThoughtDigital Managing Partner Joseph Ung said.
Chairman of RPG Group and Chairman of the Board of Zensar, Harsh Goenka told mediapersons, ''Our marketing and acquisition strategy is to acquire leadership position in chosen areas with the acquisition of ThoughtDigital as the first step in this direction.
I am confident that this acquisition will add considerable shareholder value in the years to come, besides giving us a leadership position.'' Zensar Deputy Chairman and Managing Director Ganesh Natarajan said, ''This acquisition is a milestone in the transformation of Zensar to a global leader in our chosen focus areas - we are targeting to double Zensar's revenues by 2008-09 and put the company on the fast track to global success.'' ThoughtDigital owned by SOA Software, is a leading profitable East Coast (USA) systems integrator, which specialises in Oracle Apps and is based out of New York.
With a turnover of 27 million dollars as on year ended December 31, 2006 it employs 120 Oracle consultants and has a strong client base in verticals like Communications and Media, Financial Services, and Consumer Products and Services.
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Zensar envisions great synergies with ThoughtDigital in the Oracle space, given its rapid growth for its EAS Business in the US market.
''We are excited to be a part of the Zensar family. Zensar's mature offshoring and its proven Oracle capabilities will make us more competitive in the US Market space,'' ThoughtDigital Managing Partner Joseph Ung said.
Chairman of RPG Group and Chairman of the Board of Zensar, Harsh Goenka told mediapersons, ''Our marketing and acquisition strategy is to acquire leadership position in chosen areas with the acquisition of ThoughtDigital as the first step in this direction.
I am confident that this acquisition will add considerable shareholder value in the years to come, besides giving us a leadership position.'' Zensar Deputy Chairman and Managing Director Ganesh Natarajan said, ''This acquisition is a milestone in the transformation of Zensar to a global leader in our chosen focus areas - we are targeting to double Zensar's revenues by 2008-09 and put the company on the fast track to global success.'' ThoughtDigital owned by SOA Software, is a leading profitable East Coast (USA) systems integrator, which specialises in Oracle Apps and is based out of New York.
With a turnover of 27 million dollars as on year ended December 31, 2006 it employs 120 Oracle consultants and has a strong client base in verticals like Communications and Media, Financial Services, and Consumer Products and Services.
UNI
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