Japan’s TechnoPro Acquires Robosoft Technologies, An Udipi Based Company
- ByStartupStory | August 10, 2021
Japan’s TechnoPro acquires Robosoft Technologies, an Udipi based company. Robosoft Technologies provides digital solution services, mainly to US, Japan and Indian clients, which will become a subsidiary of TechnoPro in the two-phased transactions: 80 percent in the first tranche and the remaining 20 percent in the second one approximately one year later. With Design Thinking and UI/UX at its core, Robosoft leverages emerging digital technologies such as AI/ML, IoT, 5G and VR/AR, The company employs more than 800 engineers with a mission of “simplifying lives with delightful digital experiences”, providing one-stop digital solutions such as digital advisory, UI/UX design, engineering services, analytics, middle/back-end development to customers located in the United States and Europe, Japan and India.
TechnoPro announced the reason for this acquisition was to identify the digital solution delivery services to the clients in the developed countries utilising overseas offshore hubs as one of the pillars of the growth strategy. “The purpose of the share acquisition is to promote this growth strategy by acquiring the Indian offshore core hub and the capability of technology and solution in a digital field,” it added. Robosoft was founded by Rohith Bhatt, in 1996 and has been backed by investors including Kalaari Capital and Ascent Capital. Robosoft has accelerated its growth during these three years by succeeding in gaining major accounts in the United States and Japan, and realised the revenue growth of more than 89 percent YoY and the EBITDA growth of more than 165 percent YoY, with achieving the EBITDA margin of 40 percent, in the latest fiscal year.
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