Mindpool to acquire SA Technologies for $5.1Mn
CALIFORNIA, UNITED STATES — IT staffing and recruitment services provider Mindpool Technologies has agreed to acquire Satincorp Technologies Inc. (SA Technologies) for approximately INR 380 million ($5.1 million).
The acquisition is subject to regulatory approval and approval by the Mindpool’s board. The transaction is expected to be completed within the next three to six months.
Based in Pune, India, Mindpool Technologies delivers technology experts and capabilities to clients from diverse industries across the world. The company has received excellent customer satisfaction ratings in IT service delivery for seven consecutive years.
In September 2019, Mindpool acquired a 51% stake in S A Tech Software India Private Limited (SAT) for INR 5.04 crore ($680,000). After three years, SA Technologies acquired a 9.78% stake in SAT from Mindpool for INR 0.19 million. SA Technologies eventually purchased an additional 19.53% stake in SAT for INR 0.95 million.
SA Technologies Inc. is a full-service IT consulting company with over 18 years of experience. The company is based in Santa Clara, California, and specializes in offering IT consulting and development solutions using remote as well as onsite IT teams. The company provides consulting services including Enterprise IT, Oracle & Microsoft, and Remote Outsourcing Assistant Services.
The acquisition of SA Technologies from Manoj Narottam Joshi, Priyanka M Joshi, Shantanu Joshi, and Abhinav Joshi will further expand Mindpool Technologies’ presence in the IT staffing and consulting services sector.
