IT People buys Cyberwerx

MUMBAI: Online recruitment and software consulting company IT People India Ltd has entered into a strategic ‘business buyout’ agreement with Bangalore-based Cyberwerx Software Solutions to strengthen its software consulting business.

The buyout results in transfer of ownership and performance of Cyberwerx existing business contracts and related assets, including employees, to IT people.

Cyberwerx functions in the telecom and networking space and offers customers product development strategies and seamless team augmentation solutions.

Ketan Seth, chairman IT People Ltd said, “This strategic initiative is to strengthen IT People’s presence in telecom and networking technology space. Our in-depth experience and centre of excellence in this space has clinched the deal in our favour and we are sure this will significantly help international clients in the long-run.” 

This move will give IT People access to multinational clients like Nokia-Siemens, Airvana and Cisco and expand its presence in telecom vertical, testing, technical writing and networking space.

Company officials said the transfer of employees will take place in a phased manner.

The acquisition comes almost a month after the approval of IT People’s board for the amalgamation of Marketplace Technologies Ltd and Orient Information Technology Ltd.

c_arcopol@dnaindia.net