Sonata Software To Acquire US-Based Quant Systems In All Cash Deal

Sonata Software To Acquire US-Based Quant Systems In All Cash Deal

by Swarajya Staff - Thursday, February 23, 2023 09:16 AM IST
Sonata Software To Acquire US-Based Quant Systems In All Cash DealSonata Software

Sonata Software on Wednesday (22 February) announced that it will acquire 100 per cent stake in US-based software firm Quant Systems in an all cash deal.

"Sonata Software North America Inc., (SSNA), a wholly owned subsidiary of Sonata Software Limited (SSL), has signed a definitive agreement with the Shareholders of Quant Systems INC., a Texas (USA) based IT Solutions and Software company, to acquire 100 per cent stake," the company said in a statement.

Sonata Software will make an upfront payment of $65 Million for the acquisition with deferred achievement-based earn-out/pay-outs upto a maximum of $95 million payable over 2 years, according to a regulatory filing.

Further, the company will also make certain additional payments on achievement of additional targets.

Founded in 2008, Quant Systems has a team of over 300 Engineers in delivery centres across India (Hyderabad) and Costa Rica along with onshore presence in North America to deliver client service.

Sonata Software said that this acquisition is in line with its strategy to accelerate the growth curve and build scale.

Quant Systems' acquisition will accelerate Sonata’s capabilities in Enterprise Data Analytics, Cloud modernization, Cyber security, Salesforce, Data Privacy, Adobe, and Digital and Mobile App solutions, including differentiated IPs for Salesforce ( and Chatbot (Lisa) technologies, it said.

Further, it will also expand Sonata’s domain expertise in banking and financial services, healthcare and life sciences, consumer/retail and others.

Join our Telegram channel - no spam or links, only crisp analysis.
Get Swarajya in your inbox everyday. Subscribe here.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Comments ↓
Get Swarajya in your inbox everyday. Subscribe here.

Latest Articles

    Artboard 4Created with Sketch.