Indian IT firm Sonata Software to acquire US-based Quant Systems

Indian information technology services company Sonata Software, through its subsidiary, Sonata Software North America will acquire Quant Systems, an American data analytics and cloud modernization company, in an all-cash transaction valued at $160 million.

Sonata Software will pay an upfront amount of $65 million and make deferred millstone-based payments of up to $95 million over the next two years.

With the proposed acquisition, the Indian IT services provider anticipates to accelerate the scale and enhance its modernization and digital engineering capabilities.

Sonata Software hopes to increase its capabilities in enterprise data analytics, cloud modernization, cyber security, Salesforce, data privacy, Adobe, and digital and mobile app solutions, including differentiated IPs for Salesforce (workbox.io) and Chatbot (Lisa) technologies.

With the acquisition of the data analytics and cloud modernization company, Sonata Software will increase its domain expertise in banking and financial services, consumer/retail, healthcare and life sciences, and others through the acquisition.

Samir Dhir — Sonata Software MD and CEO said: “We aim to be the fastest-growing next-gen Digital firm delivering Modernization & Digital outcomes for enterprises through our Platformation Framework.

“To achieve this vision, we have outlined some key strategic drivers to build scale through service offering expansion in Modernization, invest in BFSI and Healthcare & Life Sciences verticals, and build global centres.

“Quant Systems aligns to our strategic drivers and will enable us to win larger deals in our focus-verticals and adds two large clients to our top 5 clients list.”

Quant Systems is a US-based enterprise data analytics and cloud modernization company, with more than 300 Engineers in delivery centres across India (Hyderabad) and Costa Rica along with Onshore presence in North America.

The data analytics and cloud modernization company offers marquee logo services to banking, financial services and insurance (BFSI), consumer and retail, and healthcare and life sciences industries.

Quant Systems’ partners include Amazon Web Services (AWS), Salesforce, Adobe, Snowflake, and Google Cloud.

Srini Veeravelli — Quant Systems CEO said: “Joining the Sonata family will enable us to take our innovative IPs and deep expertise to a broader clientele to solve complex cloud and data management challenges.

“This will also open up more growth avenues for our people and deepen the bench of valuable skills.”