Cigniti Technologies to acquire RoundSqr for $4.8m
Cigniti Technologies has agreed to acquire Aparaa Digital, an artificial intelligence/machine learning (AI/ML), analytics, data engineering, and blockchain services company that operates as RoundSqr.
The India-based digital assurance and quality engineering services firm will pay $4.8 million as a consideration in cash.
Cigniti Technologies said that the acquisition is a strong step towards strengthening its strategic quest of becoming a specialized provider of digital engineering and assurance services.
Srikanth Chakkilam — CEO of Cigniti Technologies said: “Onboarding Aparaa Digital (RoundSqr) is in line with our strategy to expand our digital engineering capacity to provide a greater breadth and depth of services to our clients. This is a strategic and complementary capability-led acquisition for us.
“The digital engineering market, valued at about $300 Billion annually, offers an explosive head room of growth for companies that have strong capabilities in Data & Analytics, AI & ML, and cloud engineering. Global 2000, platform, and digital native companies are looking to partner with service providers who can help them with these capabilities. This has become an essential requirement to accelerate digital transformation across industries.”
Based in Hyderabad, India, RoundSqr is said to drive digital transformation by offering byte-sized digital re-imagination, consulting-driven roadmaps, and by resolving complex problems leveraging emerging technologies.
The areas covered by RoundSqr include omni-channel solutions, Big Data, mobility AI, ML, and blockchain. It serves clients across the US, Latin America, the UK, Australia, and India, and rest of Asia Pacific.
Kiran Kuchimanchi — CEO of Aparaa Digital (RoundSqr) said: “We will help with the digital transformation journeys of Cigniti’s impressive customer base, including 80 of the Global 2000 companies.
“Our ability to reach new companies and help them with digital engineering services will be amplified through Cigniti’s global presence across 23 countries. We will leverage Cigniti’s brand and expertise to attract the best of the talent across the world in the data engineering, AI/ML, Blockchain, and high-end product development space.”