Posted October 15, 2018 05:10:22 The acquisition of Capital Technology has been announced by two Indian venture capital firms, Centronics and Meridian.
Meridian, the largest technology company in the Indian technology sector, will take over the management of Capital Technologies, which is based in India.
The acquisition is expected to close in March 2019.
“This will be a significant milestone for our team as we will be taking over the portfolio management of one of the largest Indian technology companies in the space.
The acquisition will help us to leverage our experience in technology, marketing and strategic partnerships with top Indian tech companies and provide access to our global network of strategic advisors,” said M Venkatesan, Managing Director, Centronic.
“The addition of Meridian to the portfolio also gives us an opportunity to build our ecosystem and strengthen our relationship with strategic partners across the globe.”
Meridian Technologies is an industry leader in cloud computing and data analytics, and is also one of India’s leading data security solutions provider.
It has a presence in the US, Europe, South East Asia, Africa and Middle East, with offices in Singapore, Shanghai and Dubai.
The company has offices in Hyderabad and Bangalore.
Merida has been working with Google, which acquired Google Cloud in 2018 for $1.1 billion.
It also partnered with Amazon.com in 2017 to create the AWS Cloud Platform.
The AWS Cloud platform enables companies to build out their own private clouds and services.
Meridians management is managed by the Tata Group’s Tata Consultancy Services and the Capital Technology Group’s Capital Technology Institute, which will continue to operate as a separate entity.
Merida has a strong track record in strategic partnerships and mergers, having been the lead investor in the acquisition of the Australian start-up Battersea Power Station.
Capital Technology also acquired a number of start-ups in India, including Flipkart and Vistaprint.