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Last Updated : Jan 17, 2019 10:28 AM IST | Source: Moneycontrol.com

L&T Infotech gains on acquisition of Ruletronics Systems

L&T Infotech acquired Ruletronics of $7.48 million, including up-front consideration and earn-outs.

 
 
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Larsen & Toubro Infotech shares gained nearly a percent in morning Thursday after the acquisition of Ruletronics Systems' Indian, UK and US businesses.

Ruletronics is a boutique Pega consulting company with customers in banking, insurance, healthcare and retail verticals.

Total revenue of Ruletronics for the previous 12 months period ended March 2018 was around $3.35 million.

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"...has signed a definitive agreement to acquire Ruletronics Limited (UK), Ruletronics Systems Inc. (US) and Ruletronics Systems Private Limited (India)," L&T Infotech said.

Ruletronics is a silver implementation partner of Pega Systems, which is a leader in intelligent business process management (BPM), customer relationship management (CRM) and process automation.

"Acquisition of Ruletronics will strengthen the company's rapidly growing digital business with a suite of capabilities in Pega implementation in establishing BPM roadmap & strategy, customer services, RPA and decisioning," the company said.

L&T Infotech acquired Ruletronics of $7.48 million, including up-front consideration and earn-outs. The closing of the transaction is expected to get completed within 8 weeks.

At 10:13 hours IST, the stock was quoting at Rs 1,781.00, up Rs 12.85, or 0.73 percent on the BSE.

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First Published on Jan 17, 2019 10:28 am
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