Udupi-based Robosoft Technologies, a digital transformation solutions firm that counts Apple as its client, has signed a definitive agreement to sell the company to the Japanese firm Technopro Holdings on August 10 for the total cost Rs 805 crore.
Robosoft, based in Udupi, a small town in Karnataka, was founded in 1996 by Rohith Bhat, and now employs over 1,000 people with delivery centres in Japan and the US, apart from India. The company offers solutions in digital transformation such as user design, engineering and analytics. Apple was one of its first clients.
The company reported net sales for FY21 was Rs 184 crore, up 89 percent from Rs 97.4 crore the previous year. The company’s net income was Rs 49.4 crore in FY21, up 170 percent from Rs 18.2 crore for the year ending March 2020.
The company had raised funding from Kalaari and Ascent Capital in 2011 and 2008 respectively. After the acquisition, Robosoft will continue to be led by its current management team, headed by Chief Executive Officer, Ravi Teja Bommireddipalli, who is also being elevated to Managing Director and CEO.
Technopro, listed on Tokyo Stock Exchange, specialises in IT, engineering and R&D and employs over 20,000 people. According to Technosoft, the company has synergies in the banking and financial services, media and retail in Japan, and helps the company leverage engineering talent in India.
“Robosoft has had a phenomenal journey over the last two decades and has grown by leaps and bounds during this period. The partnership with Ascent Capital and Kalaari Capital heralded a strong growth era for us and I am very happy that we are handing over the reins of the Company to a global player like TechnoPro,” said Rohith Bhat, Founder & Managing Director of Robosoft.
“We look forward to a close collaboration with Robosoft in the company’s next phase of growth and see tremendous synergies between TechnoPro and Robosoft” said Takeshi Yagi, President, Representative Director and CEO, TechnoPro.
“Partnership with TechnoPro will provide us new opportunities to grow in Japan which is on a path of Digital Transformation while continuing to expand in our core markets of US, Europe and India. This is a strong validation of Robosoft’s vision and strategy and our strong track record. We will continue to innovate and drive digital transformation for our clients worldwide,” said Ravi Teja Bommireddipalli, CEO of Robosoft.
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