Cranes Software International Ltd. has announced the acquisition of Bangalore-based analytical business solutions provider, Analytix Systems for about USD 2.5 million to strengthen its presence in the high potential domain of embedded decision support intelligence, supporting better managerial decisions.
Cranes said of the total amount about 11.5 percent will be paid in cash and the balance in equity shares, to be issued over a period of two years.
Announcing the acquisition, Asif Khader, Managing Director, Cranes Software International said, "The acquisition of Analytix Systems significantly advances our presence in the high growth area of embedded analytics. Analytix Systems’ technological capabilities and established IP portfolio is expected to complement Cranes’ existing portfolio of software and business solutions. By leveraging our global sales and distribution network, we will expand our presence in the analytical business solutions space, opening up another significant market for ourselves."
Established in 1998, Analytix Systems specialises in research, development and design of software products, solutions and services in the areas of identity deduping, fraud and risk management, mobile field data capture, mobile workflow automation, data storage and analytics. Analytix Systems has also created tools for search and analysis of stored data.
