Systems integrator and project management services firm Progility plc has agreed to acquire Unify Enterprise Communications Private Limited, popularly known as Unify India, for €1 million in cash from the Unify Group, the unified communications joint venture between Siemens AG and US private equity firm The Gores Group.
Unify India is a systems integrator and independent solution provider specialising in communications infrastructure, applications and services for enterprise customers. “Progility understands the products and business operations of Unify India extremely well, as Progility Technologies operates a similar business in Australia,” a release said.
In the financial year till September 30, 2014, Unify India generated revenues of Rs 19,429 lakh and made a profit before tax of Rs 1,107 lakhs. On the said date Unify India had net assets of Rs 7,477 lakh.
Wayne Bos, Executive Chairman of Progility, said they wanted to re-structure Unify India, transitioning the company from being an Original Equipment Manufacturer to becoming a Tier One re-seller and distributor of products in Asia. “This process will be disruptive to the business over the short term and this has been reflected in the acquisition price paid, however, we are confident that Unify India, when re-branded as part of the Group, will become an important strategic addition to Progility,” he said in the release. “In addition, the acquisition will create an opportunity for us to introduce our expanding portfolio of other products and services to one of the world’s largest markets.”
Headquartered in Mumbai, Unify India currently employs 223 people and operates through a network of 21 offices throughout India. It also operates an extensive distribution network in India, Bangladesh, Nepal, Bhutan and Sri Lanka.
The senior management team will continue with the business post acquisition.
