The Mumbai-based software service provider Mastek Ltd. is acquiring the businesses of Evolutionary Systems Pvt Ltd (Evosys India), a firm that offers Oracle cloud implementation and consultancy services.
Mastek has already acquired several businesses of Evosys India across the globe through its wholly-owned subsidiary Trans American Information Systems Pvt Ltd. Also, Mastek has already signed an agreement to acquire Evosys’s business operations in the Middle East.
The companies haven’t revealed the financial details of the transaction. The full-service law firm Khaitan & Co mediated the transaction for Mastek. The acquisition of Evosys will be beneficial to the company in many ways; it will help the company’s customers in speeding up their transaction to digital processes and access value from their relevant assets.
John Owen, Mastek Group chief executive officer stated: “Financially, this transaction will be immediately accretive to our growth and earnings; however, we must be more ambitious.”
Evolutionary Systems was founded in 2006, the company provided solutions related to Oracle Cloud, Oracle ERP Cloud, artificial intelligence and machine learning. Currently, the company has over 80 clients in sectors like engineering, healthcare, hospitality, and retail. And Mastek is an enterprise digital transformation specialist that has branches and subsidiaries across the world.
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