Savex Technologies, a Mumbai-based information and communication technology firm has agreed to buy a controlling stake in Bangalore-based Inflow Technologies. The deal will strengthen Savex’ enterprise channel portfolio as the value-added services network of Inflow will help the Mumbai-based firm to further expand its businesses. The transaction, if successful, will create a $3 billion communication technology firm, sources said.
Mumbai-based boutique investment bank, Singhi Advisors was the sole advisor to the transaction. When contacted, both the companies declined to comment. Both the companies have signed a definitive agreement and the deal is expected to announce as early as next week, source said. Both, Savex and Inflow, are established names in the industry and have been trusted partners to world’s leading technology companies.
Mumbai-based Savex Technologies, is the third largest IT distributor in the country. Headquartered in Mumbai, Savex has 107 offices and 42 stocking locations across the country catering to over 12000 customers every month across more than 750 cities.
Inflow will continue to operate independently under the current management team led by group managing director Byju Pillai. Founded in 2005 , Inflow Technologies provides Value Added Distribution in Cyber Security, Networking, Unified Communications and Collaboration, Infrastructure and Application Software, among others. The company has a revenue run rate of around $350 million in last fiscal. Headquartered in Bangalore, Inflow Technologies has a presence in 15 locations.
Savex recently acquired Uniserved Technologies, a local first aggregation platform for technology services delivery. It specializes in providing its clients with the ability to access on- demand technology services in their specific target geography.