Zensar Technologies to acquire Oracle ERP provider Professional Access
14 Aug 2014
RPG group company Zensar Technologies today said it had signed an agreement to acquire US-based Professional Access Inc (PA) for an undisclosed sum.
Under the terms of the Agreement, the New York-based PA will now be Zensar Technologies' wholly-owned subsidiary.
The deal will be financed by a combination of internal accruals and debt, the company said in a statement.
With revenues of over $38 million, PA is an Oracle ATG and Endeca partner. It is an Oracle Platinum partner with presence in the US, the UK, Latin America, Middle East and Africa.
The company works with several large and mid-sized retailers in these geographies to build and implement their e-commerce strategies, the company said in a statement.
This acquisition furthers Zensar's bid to strengthen its dominant position in the Oracle e-commerce space by combining Zensar's Oracle EBS, Oracle Retail and Fusion Middleware solutions for global clients.
"With this acquisition, Zensar will be well positioned to deliver solutions that can transform the future of e-commerce around the world," Zensar added.
Harsh Goenka, chairman of RPG and Zensar said, ''PA's market leadership in Oracle e-commerce space and its strong management team is strategic to Zensar's plan to increase its market share in the high growth e-commerce space. The combination of the two companies will enhance the value Zensar delivers to clients in the Retail domain.''
PA's founders Babu Venkatesh and Ashu Chahal will continue to manage the company. Their management team and all their associates based in Bengaluru, Mumbai and Delhi-NCR will become a part of Zensar's global delivery organisation.
''Zensar's proven track record with large Oracle deployments for retail and manufacturing clients will be significantly enhanced by the outstanding Retail Commerce credentials of PA,'' said Ganesh Natarajan, Vice Chairman and Managing Director at Zensar.
PA's 800 plus Oracle e-commerce associates will now take Zensar's overall Oracle practice strength to over 2,200.
ICICI Securities was the financial advisors, while Nishith Desai Associates in India and Stahl Cowen Crowley Addis LLC in USA were the legal advisors.
