TechnoPro Holdings, a Japan-based technology-focused staffing and services company, announced that it agreed to acquire 100% of India-based Robosoft Technologies Private Limited.

Robosoft was originally established as a software developer in 1996 and became one of the pioneers in mobile app development in 2008. Today, the company employs more than 800 engineers with a mission of “Simplifying Lives with Delightful Digital Experiences”, providing one-stop digital solutions such as digital advisory, UI/UX design, engineering services, analytics, middle/back-end development to customers located in the US and Europe, Japan and India.

Robosoft is headquartered in Udupi, India with additional delivery centers in Mumbai and Bengaluru and sales offices in US and Japan.

The total acquisition price is INR 8 billion (USD 107.5 million) and the company will become a subsidiary of TechnoPro as part of a two-phased transaction: 80% acquired in the first tranche and the remaining 20% approximately one year later.

TechnoPro intends to work in collaboration with Robosoft to generate synergy effects such as gaining and expanding its customer base in Japan in the Media, BFSI (banking, financial services and insurance) and Retail/Ecommerce industries utilising the existing solutions of Robosoft. Furthermore, it plans to develop and provide TechnoPro’s customers with digital solutions combining Robosoft’s unique offerings of advisory and UI/UX design and TechnoPro’s existing technologies.

The company will also leverage Robosoft’s engineers at domestic on-site and offshore and nurturing TechnoPro’s engineers given the tight supply of digital savvy engineers in Japan.

Takeshi Yagi, President, Representative Director and CEO, TechnoPro said, “TechnoPro is delighted to invest in Robosoft, an innovative leader in the Digital Transformation space. We are excited by Robosoft’s rapid growth, strong leadership team, expertise in emerging technologies and deeply integrated customer relationships. We look forward to a close collaboration with Robosoft in the company’s next phase of growth and see tremendous synergies between TechnoPro and Robosoft”.

Rohith Bhat, Founder of Robosoft said, “Robosoft 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.”

Robosoft will continue to be led by its current management team, headed by CEO, Ravi Teja Bommireddipalli who is also being elevated to Managing Director and CEO.

According to TechnoPro, the impact of the share acquisition on its consolidated financial performance for the fiscal year ending June 2022 is under review now. TechnoPro intends to make appropriate disclosures in accordance with the applicable rules of the Tokyo Stock Exchange once such details are determined.

GCA acted as exclusive Financial Advisor to Robosoft and its shareholders, Indus Law and Anoma Legal acted as Legal Advisors and KPMG, Deloitte and PwC acted as Due Diligence and Transaction Tax advisors respectively.