L&T Infotech gains on acquisition

L&T Infotech is up after it announced that it has acquired Ruletronics Systems' Indian, UK and US businesses.

Ruletronics is a boutique Pega~ consulting company with customers in banking, insurance, healthcare and retail verticals. Total revenue of Ruletronics for the previous 12 months period ended March 31, 2018 was around US$ 3.35 Million.

The company has stated that the acquisition of Ruletronics will strengthen L&T Infotech’s rapidly growing digital business with a suite of capabilities in Pega implementation in establishing BPM Roadmap & Strategy, reasons for acquisition of Customer Services, RPA and Decisioning.

The closing of the transaction is expected to get completed within 8 weeks.

The entire consideration will be paid in cash.

The enterprise value payable for the acquisition of 100% capital of Ruletronics is US$ 7.48 Million, including up-front acquired consideration and earn-outs.