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GSS Infotech Ltd — M&A Activity 2018
Oct 12, 2018
64080_rns_2018-10-13_dd893fb6-5d14-4dce-bbb2-5cef35502e05.pdf
M&A Activity
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Share SHa Agreement
Enclosed : Press Release
Press Release
GSS INFOTECH ANNOUNCES THE ACQUISITION OF NEXIILABS INC
GSS Infotech Inc. (A wholly owned subsidiary of GSS Infotech Ltd) has signed the Share Purchase Agreement for acquiring 100% shares of Nexii Labs Inc, USA on 12[th] October, 2018. Nexii Labs Inc., shall become a wholly owned step-down subsidiary of the Company.
Nexii Labs adds a strong capability in the area of Automation for GSS’s existing Cloud and Infrastructure Management Practice. Adding this service portfolio, will make GSS more relevant to its customers. Nexii has some of the fortune 500 companies as its customers with revenues of about USD 1.8 Million for FY 2018.
GSS Infotech CEO, Bhargav Marepally, says,
“Automation is a significant driver in the infrastructure management, cloud and other emerging technologies. Nexii’s automation capabilities will power GSS’s services and enhance its value proposition to our global customers. We are excited about this acquisition and the opportunity it presents to add value to our customers and employees.
We will continue to look for synergetic acquisitions to strengthen our focus on building technology expertise such as block chain, Machine learning and artificial intelligence and building expertise industry verticals such as healthcare.”
About GSS Infotech:
GSS Infotech is a global IT service provider that delivers services and customized solutions in the areas of Infrastructure Management Services, IT Managed Services and Cloud. GSS over the last 20 years has worked with Fortune 1000 clients in industry verticals in Healthcare, Banking and Financial Services. www.gssinfotech.com
About Nexii Labs:
Nexiilabs, a privately held company, delivers IT infrastructure, cloud and storage solutions with the effective use of automation techniques and tools. www.nexiilabs.com
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