Japanese firm buys out Udupi-based Robosoft for Rs 800 crore

Japanese firm Technopro Holdings has signed deal with Udupi-based Robosoft Technologies acquiring 100 percent of its shares.

Udupi: Udupi-based Robosoft Technologies, a digital transformation solutions firm that counts Apple as its client, signed a definitive agreement to sell the company to the Japanese firm Technopro Holdings for Rs 800 crore.

Rohit Bhatt, Founder and Managing Director of RoboSoft clarified that the company will continue in the same title. Till now, about 80 percent of the company's shares were purchased by Japan's Techno Pro and it will be acquired completely. Techno Pro has been employing over 21,000 employees, while there are 1500 people are employed in RoboSoft. The governing body will also remain the same.

Robosoft made great strides in development of software development applications. The company which witnessed boom in its business expanded its roots globally in 2008 by launching mobile applications. The company has delivery centers in Bengaluru and Mumbai as well as in several locations in the US and Japan.

The company raised Rs 184 crore in the current financial year and its profit this year witnessed an uptick to 89 percent. Last year, Robsoft's profit amounted to Rs 97.4 crore.

Robosoft was established in 1996. During its initial year, there was only center in Mumbai and later after two years centers were set up in Surathkal in Mangalore. As its business burgeoned, new center was set up in Udupi's Santhekatte in 2005.