Zylog Acquires Brainhunter For $32.75 Mn
Zylog Systems Ltd has acquired Brainhunter Inc for $32.75 Mn. The acquisition is through a bidding process under the Canadian Creditors Arrangement Act in which Zylog emerged as the bidder. Zylog will raise debt to fund the transaction.
Canada based Brainhunter Inc provides staffing, engineering and consulting services. It has a talent pool of about 1800 customers and about 300 clients. BrainHunter filed for bankruptcy protection in Dec'09.
This acquisition will provide with Zylog with a comfortable route to tap Canada's government agencies as about 32% of Brainhunter's revenue comes from the government vertical. Otherwise, it is difficult for foregin IT service providers to get government contracts as they need various clearances from the government.
Zylog provides complete product lifecycle management services, ranging from new product development and product advancement to product migration, re-engineering, sustenance and support. Its clientele includes ING Vysya, SBI, American Express and StanC among others. Zylog reported a PAT of 24.76 Cr on a turnover of Rs 201.65 Cr for the quarter ended Dec'09. Zylog has a debt of Rs 132 Cr on its books as on March'09.
Zylog's Acquisition
| Date | Target | Size ($ Mn) |
| Nov'08 | PEQ Consulting | 2.5 |
| Nov'08 | Fairfax Consulting | 7.5 |
| Nov'08 | Ducont FZ LLC | - |
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 02/02/10 | Brainhunter-Zylog | M&A | Zylog Systems Limited | 32.75 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 17/05/12 | Private Equity | Looking For | Prizm Payment Services Private Limited | 92.18 | Planned |
| 17/05/12 | M&A | Carzonrent India Private Limited | QCABS | - | Announced |
| 17/05/12 | M&A | Trivone Digital Services Private Limited | Chakpak Media Private Limited | - | Completed |
| 17/05/12 | M&A | Trivone Digital Services Private Limited | WheelsUnplugged.com | - | Completed |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Zylog Systems Limited | Sudarshan Venkatraman Ramanujam Sesharathanam |
82/40, First Main Road, CIT Nagar, Nandanam |
MindTree Limited Infosys Limited (Formerly Infosys Technologies Limited) |
www.zylog.co.in |
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