Avendus advises Corpus, Inc in its acquisition of Itellix Software Solutions
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March 16, 2006
Corpus Inc., a provider of customapplication development and information technology services to Fortune 100 companies in the banking, financial services and telecommunications industries, today announced the acquisition of Itellix Software Solutions Pvt. Ltd, a Bangalore - based software solutions provider.
Avendus Advisors was the sole investment banker for the transaction.
Itellix is a Bangalore-based IT services company with a key focus in the banking & financial services space. The company has 15 domain specialists in banking and capital markets and a customer base that includes Barclays, Standard Chartered and Dresdner.
Commenting on the transaction, Sachin Tummala, CEO, Corpus said, “We were on the look out for a company with expertise in the Web Services Domain to grow the basket of services that we could offer our clients and found Itellix to be the best and the most suitable as well,”
“We are excited about joining forces with Corpus Inc. The merger will position us to accelerate our future growth together," said Mr. Anil Ahuja, CEO - Itellix.
“The idea was to bring together organizations that can complement each other's products and services and thereby enhance the offerings to clients and fuel exponential growth," said Mr. Shyam Shenthar, EVP - Avendus Advisors. ”
About Corpus, Inc
Corpus, Inc. is a CMMI Level 5 assessed IT solutions provider for business entities. Corpus has worked with the top 15% of recognizable industry names in the arenas of Entertainment, Telecommunications, Financial Services and Media and many other Fortune 100 companies. Corpus Inc. client list includes companies like Verizon, Verizon Wireless, Cingular Wireless, SBC, Disney Mobile, JP Morgan Chase, Wachovia, Morgan Stanley etc.
For more details, please visit www.corpus.com
About Itellix Software Solutions
Itellix, founded in September 2002, focuses on providing solutions that help accelerate the adoption of Web services. In addition to Web services software, Itellix also has a consulting business through which it provides offshore application development services to European Banks such as Barclays, Standard Chartered and Dresdner.
For more details, please visit www.itellix.com
About Avendus Advisors
Avendus Advisors is an Investment Bank specializing in Private Equity Syndication, Cross-Border M&A, Fixed Income and Strategic Advisory services to corporates and funds. The company focuses on industries where Indian companies have a strategic growth advantage, including IT Services, IT Enabled Services, Pharmaceuticals and Healthcare, Automobiles and Automobile Components, Real Estate and Consumer Products and Services. Avendus clientele ranges from fast growing mid cap companies to large international corporates and established private equity funds. It has served more than 100 corporates in cross border transactions and in raising growth capital, and has closed deals more US$ 300 Million during the last twelve months.