Mphasis Limited to acquire Fortify Infrastructure Services Inc

Saturday, April 10, 2010

The Mphasis Limited, a Bangalore-based applications and business process outsourcing (BPO) company, is acquiring Fortify Infrastructure Services Inc, an offshore remote IT operations and management (ROM) services firm in the US. According to IT sector observers, infrastructure management is a hotly contested area. It is clearly one of the fastest growing and highly scalable business in long-term IT services play. The acquiring a good asset in the US corridor is important especially since there are not too many quality assets up for sale.

Fortify has operations in India as well, and has a command center in Pune Maharastra.
VCCircle has learnt that the deal is a combination of upfront payment of $15 million by Mphasis and earnouts. The revenue of privately-held Fortify is understood to be in the region of $20 million. Avendus Capital has acted as advisor to Mphasis in the transaction.