Sonata Software To Acquire Microsoft Dynamics Partner IBIS Inc.
India-based IT services firm Sonata Software announced it has signed an agreement to acquire US-based IBIS Inc., a Microsoft Dynamics AX and CRM partner with expertise in supply chain management.
Sonata's North American subsidiary will pay $8.6 million in cash and another $5.4 million in earn-outs over two years, according to a regulatory filing with the Bombay Stock Exchange.
IBIS Inc. had recently announced a decision to focus exclusively on its Dynamics CRM and AX businesses, including supply chain solutions for manufacturers, distributors, and consumer packaged goods. The company was named a Global ISV in 2013 and it recently sold its long time GP practice to US-based Microsoft partner Socius to further concentrate its efforts on AX and CRM.
Based in Bangalore, India, Sonata Software is publicly traded and has offices around the world and a twenty year history partnering with Microsoft (as well as other technology providers). The company reported about $73 million in revenue for the most recent quarter with growth of 15% year over year, with EBIDTA growth of 26% year over year. The company is a Master VAR for Dynamics AX, NAV, and CRM in India, but they also deliver a broad range of IT and technology infrastructure services. Their core focus is on the travel, retail, and CPG verticals.
Sonata Software North America Inc. is headquartered in Fremont, California provides development and consulting services to US clients
In a statement, Srikar Reddy, MD & CEO of Sonata Software said:
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