Sonata Software sees growth via acquisitions
The company has a cash reserve of around Rs 350 crore to fund its buyout activities.
Bangalore: Bangalore-based technology firm Sonata Software has been chasing a string of pearl strategy to fuel its next level of growth. The company has a cash reserve of around Rs 350 crore to fund its buyout activities.
Sonata Software managing director and CEO Srikar Reddy told FC, “The industries we are interested are retail, travel, distribution and manufacturing; the technologies are around Microsoft Dynamics and Cloud technologies and new modern technologies like AI, machine learning, robotic process automation, more specifically, we are interested in companies with IP, platforms and products aligned to our platformation strategy.”
Sonata’s inorganic play will include acquiring a bouquet of small tech, product, deep technology, platform and IP firms in the US and Europe. It recently announced two such acquisitions: Scalable Data Systems and Sopris Systems in Australia and in the US paying Rs 28 crore and Rs 50 crore respectively.
“We are further evaluating several such options across geographies. We continue to execute on our strategy to be a digital transformation partner through our unique Platformation methodology. We recently made two acquisitions—Scalable Data Systems and Sopris Systems—both will strengthen our position as a strong Dynamics 365 partner globally,’’ said Reddy.