Robosoft Technologies, an India-headquartered maker of digital solutions, said on Tuesday it has reached a definitive agreement to sell the business to Japanâ€™s IT services firm TechnoPro for $108 million.
Founded in 1996, Robosoft Technologies started its journey as a software services firm specialising on the Mac platform, and then offered app development as a service.
Robosoft was one of the earliest firms globally to be certified as a Mac OS developer by Apple, and has been recognized by the iPhone-maker several times in the decades since.
â€œWe knew mobile was going to be big with the launch of iPhone and the App Store ecosystem. We began building mobile apps for clients across the globe and thereâ€™s been no looking back,â€ the company describes on its website.
Robosoft, which counts Ascent Capital and Kalaari Capital among its investors, has courted clients operating in several categories, including games, news, sports, utilities and lifestyle, and expanded its offerings to include product advisory, and tools for design, engineering and analytics.
The original app for the Indian news network NDTV, for instance, was developed by Robosoft. Some of its other clients include media giant Viacom and McDonaldâ€™s India. It has clients in the U.S. and Middle East as well.
Since 2017, Robosoft has been attempting to position itself as a â€œdigital solutionsâ€ company.
In a statement on Tuesday, Robosoft said its current management team will continue to lead the firm. â€œRobosoft has had a phenomenal journey over the last two decades and has grown by leaps and bounds during this period. The partnership with Ascent Capital and Kalaari Capital heralded a strong growth era for us and I am very happy that we are handing over the reins of the Company to a global player like TechnoPro,â€ said Rohith Bhat, founder and managing director of Robosoft.
â€œWe look forward to a close collaboration with Robosoft in the companyâ€™s next phase of growth and see tremendous synergies between TechnoPro and Robosoft,â€ said Takeshi Yagi, president and representative director and CEO of Tokyo Stock Exchange-listed firm TechnoPro.