Nitin Konde
25 January, 2016, Chennai: Ramco is all geared up to acquire 18.9 per cent stake in Smartmegh, a cloud based enterprise application provider. The deal is expected to be completed by 15 February, 2016. As per the official sources, Chennai based software solution provider, Ramco will be purchasing 2,335 shares of Smartmegh of Rs 6,424 each.
In a statement released by Ramco Company, it stated, “Smartmegh had earlier tied up with us to implement and maintain its solutions globally. The investment will help expand the scope and coverage of these service offerings.”
Smartmegh, also a Chennai based company ventured into the market in August 2012. The company has managed to double its revenue to 3.72 crore in 2015 as compared to 1.16 crore in 2014. It is a software products and services provider incorporated in India. Ramco Systems is a provider of Enterprise Resource Planning, Human Capital Management and Aviation Maintenance & Engineering (M&E) & Maintenance Repair & Overhaul (MRO) Software. The company operates from 20 offices in India, Asia Pacific countries, USA, Canada, Europe, Middle East and Africa.