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Helios to buy vMoksha
By Our staff Correspondent
CHENNAI,
APRIL 12.
Helios & Matheson Information Technology has signed an agreement to acquire vMoksha for $19 million. The transaction is expected to be completed by next month, according to V. Ramachandran, Chairman, Helios & Matheson.
Addressing a press conference here today, Mr. Ramachandran said the deal was closed at $ 17 million and an earn-out of $ 2 million for achieving targeted financial milestones over a two-year period. Helios & Matheson had acquired three vMoksha entities with its 510 employees. Mr. Ramachandran said Helios would hire about 1,150 software engineers in the next fiscal and announced plans to have its own corporate office-cum-development centre in Chennai.
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