AgenciesBengaluru: Japan's largest tech-focused staffing and service firm TechnoPro is buying Udupi-based Robosoft Technologies for Rs 800 crore, giving the investors of the Udupi-based iPhone app developer such as Unit Trust of India’s VC arm Ascent Capital and Kalaari exit from the company.
Robosot, among the earliest companies to set up a centre in the coastal town, had reported profits of Rs 49.4 crore and revenue of Rs 184 crore in fiscal year 2021. It employs over 800 employees servicing customers in Europe, Japan, United States and India.
TechnoPro will acquire 80% of the shares in the first tranche and the remaining 20% in a year with the Udupi company becoming a wholly owned subsidiary. TechnoPro expects to leverage the expertise of Robosoft for its customer base in Japan in Media, BFSI and Retail/EC industries.
“Developing and providing TechnoPro’s customers such as manufacturers etc., with digital solutions combining Robosoft’s unique offerings of advisory and UI/UX design and TechnoPro’s existing technologies,” it said in a statement.
Ascent Capital currently owns a majority 37.3% in Robosoft, Kalaari has around 27% with the remaining 35.7% held by 15 individuals including its founder Rohit Bhat.
Robosot, among the earliest companies to set up a centre in the coastal town, had reported profits of Rs 49.4 crore and revenue of Rs 184 crore in fiscal year 2021. It employs over 800 employees servicing customers in Europe, Japan, United States and India.
Today, @Robosoft signed a definitive agreement with Technopro Holdings of Japan for sale of 100% stake in the compa… https://t.co/3gYs9PHAht
— Rohith Bhat (@rohithbhat) 1628576229000TechnoPro will acquire 80% of the shares in the first tranche and the remaining 20% in a year with the Udupi company becoming a wholly owned subsidiary. TechnoPro expects to leverage the expertise of Robosoft for its customer base in Japan in Media, BFSI and Retail/EC industries.
“Developing and providing TechnoPro’s customers such as manufacturers etc., with digital solutions combining Robosoft’s unique offerings of advisory and UI/UX design and TechnoPro’s existing technologies,” it said in a statement.
Ascent Capital currently owns a majority 37.3% in Robosoft, Kalaari has around 27% with the remaining 35.7% held by 15 individuals including its founder Rohit Bhat.
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