Venture Capital
Private Equity

Mergers & Acquisitions | 5 September 2013    1 Comment

Virinchi Tech Buys Majority Stake Asclepius Consulting

by Charmi Gutka
Virinchi Tech Buys Majority Stake Asclepius Consulting
Share on Social Media Email Facebook Twitter Linkedin

Virinchi Technologies has acquired majority stake in Bangalore-based Asclepius Consulting, which develops IT products mainly for hospitals in all cash deal to enhance top management bandwidth, ET states.

The company said this acquisition was central to its pursuit of a broad based cross-Industry growth strategy across IT products and services, IT enabled business services in the domains of healthcare, education, media & entertainment and financial services.

Founded in 2007 by Satyajeet Prasad, Vishal Ranjan and Aravind Hiremath, Asclepius Consulting is a Healthcare IT company which owns a world class suite of hospital software products, called Charak, which is among the most comprehensive hospital management software solution in India – capable to digitize the entire administrative and clinical workflow using Electronic Medical Records , Clinical Information System and Hospital Information System.

Asclepius Consulting has a strong portfolio, varied client base and a seasoned management team.

Promoted by Viswanath Kompella, Virinchi is a software products and services provider in retail micro lending industry mainly in the US and the UK.

Apart from strengthening the leadership team of Virinchi, Asclepius’ acquisition adds a strong Healthcare product portfolio to Virinchi’s current products to build deeper presence in the US Markets.

In 2005, Virinchi had acquired KSoft Systems Inc in a cash-cum-stock deal valued at $2.6 Mn (R11.4 Cr). KSoft, headquartered in New Jersey, the US, has Nestle, HP, Gartner, Barclays and Fresh Direct among its clients and focuses on packaged solution implementation.

The acquisition enabled Virinchi to expand into SAP implementation, business intelligence and custom application development along with enterprise integration and software maintenance.

Zoutons Gets Seed Funding from 3.14Digital

Zoutons Gets Seed Funding from 3.14Digital

Delhi-based coupon aggregation platform, Zoutons has raised R2Mn in seed funding from online affiliate marketing company 3.14Digital, Iamwire states. The funds will be used by the company to enhance its technology.


Glenmark Pharma Plans Fund Raise

Glenmark Pharma Plans Fund Raise

BSE listed Glenmark Pharmaceutical has sought the board approval to raise $300 Mn (c.INR 18 Bn) by issuing equity or equity linked securities by way of QIP.

DealCurry Timeline
TL Home Search New Keet
A 314, 3rd Floor, AntopHill Warehousing Company,
Near Dosti Acres
Mumbai 400037
Copyright © EagleEye Research & Media Pvt. Ltd. 2009 All Rights Reserved - Interactive multimedia analysis platform for financial markets.
Site map |Terms of Use |Privacy Policy
DealCurry tracks financial and corporate markets for events, interprets and integrates the information in our platform, providing premium data, news and analytics. DealCurry provides comprehensive coverage of the capital markets through an intuitive, user-friendly interface.