Zensar, an RPG company, has entered into a definitive agreement to acquire M3bi, a Scottsdale, Arizona-based data engineering and digital engineering firm.
This acquisition will be completely funded by internal accruals. Financial details of the deal were not disclosed.
The addition of M3bi reinforces Zensar’s new strategy, which focuses on areas of market opportunities that allow Zensar to concentrate organization resources, investments and alliances to deliver maximum business impact.
Ajay S Bhutoria, Chief Executive Officer and Managing Director, Zensar Technologies, said, “data engineering and analytics and advanced engineering are key strategic growth opportunities for us. With the addition of M3bi’s capabilities, we will expand our offerings in this space to address the business-critical needs of our clients. Clients looking for large-scale digital transformation will be able to leverage our combined expertise.”
M3bi augments Zensar’s thrust in the data engineering, analytics and AI/ML and advanced engineering services.
The acquisition will add marquee clients to Zensar’s portfolio in both Banking, Financial Services & Insurance and other verticals, allowing Zensar and M3bi to jointly drive an expanded set of offerings to these global firms.
Harsh Goenka, Chairman of RPG Enterprises and Zensar Technologies, said, “we are reinforcing our strategic growth charter with the acquisition of M3bi.
Our acquisitions in recent years have enhanced our competitiveness, bringing value to our customers. The team steered by Anir and Suresh brings a combination of capabilities and strong client relationships to our fold.”
M3bi founders Suresh Potluri and Abir Khandekar will continue to be with Zensar.
M3bi was founded in 2010 and is has 445 professionals across the US and India.