Aditi Technologies, software product and application development services company announced that it has signed a definitive agreement with Infospace, Inc. (NASDAQ, INSP)to acquire its Indian subsidiary, Infospace India Software Development Pvt. Ltd., metasearch and online consumer product company. The terms of the transaction have been approved by both Aditi’s and Infospace’s Board of Directors.
Established in 2007, Infospace India is engaged in online product development, software engineering, and product testing for INSP’s global product portfolio. Infospace (India) has its development center in Bangalore.
“As part of its engineering business, Aditi offers high end consulting, technology and application development services to Enterprise clients from cloud to business intelligence on the Microsoft platform. The acquisition will fuel Aditi’s competency in the growing search practice working with one of the largest ad monetizing platforms, a key segment that we are focusing.” – Aditi Technologies
An interesting move by Aditi and transition from pure services player to an IP based software solution provider. even though this is the first step.
Insider info is that the new CTO of Infospace who is of Chinese origin doesnt want an India Development Center.
Infospace India employees have flooded the job portals as Aditi is offering far lesser salaries.
And afaik, this is a pure HR acquisition for Aditi. They are not getting any new biz from Infospace.
Thanks for making the effort to make clear the terminlogy to the beginners!