Zensar Technologies is set to acquire data engineering and advanced analytics firm M3BI. Zensar has made an upfront payment of USD 24 million and will make performance-based deferred payments of USD 9 million over 3 years. This acquisition will be completely funded by internal accruals. Ajay S Bhutoria, MD and CEO of Zensar Technologies discussed.

Share Market Live

NSE

The company has identified five strategic growth opportunities for Zensar, experienced services, advanced engineering services, data analytics, code application services and infrastructure services.

“This acquisition allows us to strengthen our existing capabilities in both advanced engineering services as well as in data engineering services,” he said.

In terms of the consideration, this is being paid for with internal resources.

“We have about USD 166 million of cash in the books and we are using a part of that towards this acquisition,” he added.

“We are operationalising the strategy now. We worked through the last three months to publish this strategy, to identify the strategic growth areas, we are operationalising that and we expect this to fire appropriately for us in the next several quarters,” he shared.

For the full interview, watch the video

(Edited by : Abhishek Jha)

First Published:May 17, 2021 12:35 PM IST