 "ITC Infotech Acquires Pyxis Solutions")
ITC Infotech, a fully owned subsidiary of ITC, has acquired Pyxis Solutions, a US-based niche player offering Quality Assurance (QA) solutions and testing services.
The deal has been closed at $25 mn as per a statement made by ITC Infotech MD Sanjiv Puri. “It has been an all-cash deal and funded internally,” he said.
Pyxis offers a full spectrum of services in software Quality Assurance ranging from user-interface testing to QA process improvements, including QA management and consulting, quantitative analysis testing and data validation testing.
Describing it as a ‘strategic acquisition’, Puri said, “Pyxis brings on board differentiated capabilities, domain expertise in capital markets, unique testing methodology and an impressive roster of customers, which will compliment ITC Infotech’s service offering and will further strenghten its presence in the US, in addition to building up capabilities”.
“For Pyxis, the deal would bring on board benefits of scalability, a robust global delivery model, strong offshore base and institutional strengths of being part of a larger group,” he said.
The synergy between the two companies is expected to create large opportunities for cross selling by leveraging the existing customer base of both Pyxis and ITC Infotech, by enlarging the geographic reach of services offered and by creating new opportunities for diversified offerings.
Pyxis would continue to work under its founders and would be a subsidiary of ITC Infotech (USA).