8K Miles Software Services has been a big buzzer this week, up 20 percent in the first three days. In an interview to CNBC-TV18, Suresh Venkatachari, Chairman & Chief Executive Officer of 8K Miles spoke about the latest happenings in his company and sector.
The US-subsidiary of 8K Miles Software Services has entered into a definitive agreement to acquire Cornerstone Advisors Group. Speaking to CNBC-TV18, Suresh Venkatachari, Chairman & CEO, 8K Miles hopes Cornerstone meets the expectation of 34-35 percent margins after combining with 8K Miles.
Suresh Venkatachari, Chairman and CEO, 8K Miles says the company is still identifying opportunities in banking and capital markets space.
8K Miles has acquired a Canadian-based startup, with a less-than-half-million-dollar revenues, chairman and CEO Suresh Venkatachari told CNBC-TV18‘s Nigel D‘Souza in an interview.
Suresh Venkatachari of 8K Miles says total warrant size is Rs 55 crore and it will be utilized for funding Serj Solution acquisition and organic growth. The company has already started the integration of Serj Solution.
The company is looking at one or two more acquisition opportunities in the near-term and is likely to complete an acquisition in FY15. They are looking at opportunities in healthcare and lifescience space, said Venkatachari of 8K Miles.