Umbrella Infocare

History

2022

Umbrella Infocare deal details - Softline

IT-distributor Softline revealed details of the deal Indian system integrator to acquire Umbrella Infocare. During the transaction, 100% of the company's shares were acquired, which were valued at $6.215 million. This became known on November 8, 2022.

The amount of deferred payments is $7.77 million. Thus, the total amount of the transaction amounted to $13.985 million. The transaction took place in February 2022, the deferred payment was paid in full by March 31, 2022.

By the end of fiscal 2025 and 2026 (ending March 31, 2025 and March 31, 2026, respectively), Softline will have to make additional payments to the former owners of Umbrella Infocare, depending on the financial performance of the acquired company. Their size will depend on Umbrella Infocare's financial performance for the relevant dates.

As of November 8, 2022, the amount of additional payments is estimated at $6.215 million. Consequently, the deal could rise to $20.2 million^[1].

Signing of the agreement on acquisition by Softline

The company, a Softline global provider of IT solutions and services in the field digital transformation and, in information security accordance with its 3D growth strategy, on February 7, 2022 announced TAdviser the signing of an agreement to acquire Umbrella Infocare, located in. Delhi This transaction is expected to significantly expand Softline's presence in, while India significantly strengthening the company's position in. The amount of global cloud services market the transaction was not disclosed.

Softline buys Indian cloud provider Umbrella Infocare
Photo: twitter.com/aws partners

"We promised our investors that we would make reasonable acquisitions, giving the opportunity to build the company's potential in emerging markets. Here is an example of such an acquisition that meets our three-dimensional growth strategy. Having acquired very advanced cloud computing design skills, we not only strengthened our geographical presence in India and expanded the portfolio of offered services, but will also be able to use new talented workers and their valuable experience to provide services in other countries through our sales channel, "commented on the deal Igor Borovikov, founder and chairman of the board of directors of Softline Group of Companies.

Founded in 2012, Umbrella Infocare specializes in cloud technology. With more than 200 people, her team is highly qualified in Amazon Web Services (AWS) and Citrix solutions. Umbrella Infocare holds AWS Premier Consulting Partner status for AWS Managed Services, Migration and DevOps competencies, and Platinum Plus Consulting Partner status from Citrix.

As conceived by Softline, the acquisition of the company will form the basis for the creation of the global AWS AWS Center of Excellence, which will provide access to services for the design and development of cloudy solutions for customers in almost 60. countries Thus, Softline Group gets the opportunity to provide AWS Managed Services to its customers in India and around the world.

In addition to strengthening Softline's service portfolio, the deal also signals Softline's commitment to continue expanding its operations in India, where the CAGR in the public cloud services market is projected to be 21.5% in 2020-2025. IDC In recent years, Softline has grown into one of the largest players in this market, increasing its turnover due to organic growth since 2014 by 120 times; in 2020, its turnover exceeded $230 million. Continuing to consider India as one of the most important markets, in 2021 Softline acquired an Indian IT cloud Embee solutions provider Microsoft in the country.

"The skills possessed by Umbrella Infocare's highly skilled and trusted engineering team are in demand worldwide. Now we have a critical mass for the creation and multiple growth of the global Softline Center for Advanced AWS Solutions, said Sergey Chernovolenko, Global CEO of Softline.

According to him, India is an important market for Softline Group, and this acquisition testifies to the firm determination of the company to offer advanced solutions to Softline's growing customer base in this country, as well as the desire to come out on top among cloud service providers and information security solutions.

For their part, Gurpreet Singh and Sanjay Agarwal, co-founders and managing partners of Umbrella Infocare, said they are excited to join Softline at this crucial time of its development and expect integration with the company's global team.

Joining our forces will enable us to offer services to customers in many countries outside India. The move towards digital transformation, further accelerated by the pandemic, means that companies can no longer afford to sit idly by. Restructuring cloud-based activities has become an urgent step for them to maintain the competitiveness of their business, "said Umbrella Infocare co-founders and managing partners.