RPG company Zensar Technologies said on Saturday it has entered into a definitive agreement to acquire M3bi, a Arizona-based data and digital engineering firm.
The acquisition will be completely funded by internal accruals. Zensar said the addition of M3bi reinforces its strategy focussing on areas of market opportunities to concentrate organisation resources, investments and alliances to deliver maximum business impact.
In particular, M3bi will augment Zensar's thrust in data engineering, analytics, artificial intelligence, machine learning and advanced engineering services.
The acquisition will add marquee clients to Zensar's portfolio in banking, financial services and insurance (BFSI) and other verticals, allowing both companies to jointly drive an expanded set of offerings to global firms.
One of the key tenets of Zensar's strategy involves offering depth and scale in areas of digital engineering, data and analytics, the core offerings of M3bi.
"We are reinforcing our strategic growth charter with the acquisition of M3bi," said Harsh Goenka, Chairman of RPG Enterprises and Zensar Technologies. "The acquisitions in recent years have enhanced our competitiveness, bringing value to our customers."
M3bi has 445 professionals across the United States and India. The team includes architects, leads, senior software and platform engineers, senior business analysts and data warehouse solutions specialists with deep engineering expertise across digital technologies.
( With inputs from ANI )
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