Sep 2, 2021
As previously stated in the “Announcement Concerning Acquisition of Shares of Robosoft Technologies Private Limited, Making It as a Subsidiary” announced on August 10, 2021, TechnoPro Holdings, Inc. (“TechnoPro”) acquired 80% of equity portion of Robosoft Technologies Private Limited (“Robosoft”) on September 1, 2021, and Robosoft has become a subsidiary of TechnoPro. TechnoPro plans to acquire remaining 20% equity of Robosoft in July 2022, about one year later, pursuant to the executed share purchase agreement.
For the first four months period of the current fiscal year (FY22.3) from April 2021 to July 2021, Robosoft has recorded sales of INR 870 million (JPY 1,305 million, calculated at INR1 = JPY1.50), an increase of 77% YoY, and EBITDA of INR 349 million (JPY 523 million), an increase of 112% YoY, delivering solid performance without compromising strong growth and high margin.
This acquisition will enable TechnoPro to generate synergy effects such as 1) gaining and expanding customer base in Japan of Media, BFSI and Retail/EC industries by utilizing the existing solutions of Robosoft, 2) developing and providing TechnoPro’s customers such as manufacturers etc. with cutting-edge digital solutions, and 3) leveraging Robosoft’s extensive engineer resource and nurturing TechnoPro’s engineers, consequently achieve sustainable growth and further enhancement of corporate value.
Robosoft is a full-service digital transformation company, with a mission to Simplify Lives. The Company’s key services include product advisory, design, engineering and analytics. Robosoft started as a software developer in 1996. In 2008, it was one of the pioneers to offer mobile app development as a service. Since then it has expanded its bouquet of services to emerge as an end-to-end digital transformation company. The Company has a strong technology stack including backend, middleware, front-end and analytics. It crafts digital solutions across mobile, web, wearables and smart TV. It has proven expertise in using emerging technologies such as voice IOT, AR, VR, AI and ML. Robosoft is headquartered in Udupi, India with additional delivery centers in Mumbai and Bengaluru and sales offices in US and Japan. The Company employs ~1,000 people and services marquee customers in US, Japan, EMEA and India.
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