Quintegra Solutions acquires Valley US

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Quintegra Solutions acquires Valley US

Quintegra Solutions has acquired US based software services and consulting company called Valley US.The entire process of acquisition and amalgamation was completed today.

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Quintegra Solutions  has acquired US based software services and consulting company called Valley US. The entire process of acquisition and amalgamation was completed today.   

Shankarraman Vaidyanathan, CMD, Quintegra Solutions said that this acquisition has cost them USD 10.5 million. In December 2006 Valley US had revenues of USD 12 million with a bottomline of 14%. Valley US and Jadelite Technologies are both related companies.

Vaidyanathan added that one of the topmost clients of Valley US is McGraw-Hill and they also deal with Yahoo, Google, Walmart and E-Trade. Quintegra Solutions plans to leverage the client contacts once the acquistion is complete. "This acquisition is complete and this opportunity has opened up a front gate for us to do a lot of offshoring in these kind of clients," stated Vaidyanathan.

Vaidyanathan comments that Quintegra expects to do USD 40 million topline and a profit of 15-18% which will be around USD 6-7 million in 2008. They are to close this year with USD 16 million on a standalone basis.Their current order book is USD 20 million and after the acquisition they expect it to go up by another USD 20 million.   

Their operating margins are at 10-11% and Valley US is already operating at 14-15%. It is margin accretive.