NIIT acquires Hyderabad based startup Incessant Technologies3 years ago Shalini B
The startup scene in Hyderabad has witnessed great activity this year and this merger & acquisition proves this statement right. On 6th May 2015, NIIT acquired 51% stake of Incessant Technologies, a global end to end BPM solutions provider for $17 million (about Rs.107.8 crore).
Incessant technologies is spread globally and provides strategic BPM(business process management) consulting and vertical solutions to specific technology related issues to firms and companies across the globe.
They have been recently ranked in the “20 Most Promising Banking Technology Solution Providers’ by CIO Review and “Top 10 Most Promising Services Companies in India” by Silicon India (US Edition). The firm currently employes over 300 consultants and fosters strong relationships with over 20 clients.
“Incessant provides us with the capability to be a significant player in digital integration with digitization and automation of business processes for a seamless customer experience”, said Sudhir Chaturvedi, chief operating officer, NIIT Technologies.
Incessant reported a revenue of $13.9 million in FY14, and is estimated to report a revenue of $17 million for FY15. “The entity is expected to be margin- and EPS-accretive in FY16 for NIIT Technologies,” the firm said.
The CEO of Incessant technologies, Vijay Madduri has decades of experience in managing large scale projects for marquee clients in the US, Europe, Middle East, Asia and Australian markets. Before founding Incessant Technologies, Vijay has had extensive experience in setting up and growing BPM practice at other organizations and has played multiple roles in the areas of Business Development, Client Services, Delivery and People Management.
Incessant Technologies had recently started a Technology Innovation Fund to promote and encourage entrepreneurs in and around Hyderabad. This acquisition is a great encouragement for all startups in Hyderabad because it proves yet again that nothing is impossible with strong determination and perseverance.