Synophic is Prodapt’s third acquisition this financial year. Prodapt earlier announced the
acquisitions of Innovative Logic and SLR Dynamics.
Prodapt had earlier announced plans to invest $45 million in deepening its capabilities in the network virtualization and cloudification segment, and the Synophic acquisition is part of this investment strategy. Additional investments have been planned in areas around Network cloud, Autonomous networks, and NetSecOps.
“From a geographic footprint, we have just expanded into APAC with this acquisition,” Harsha Kumar, President, Prodapt told ET. “Traditionally, we have had operations in North America, Europe, and Latin America. And India is a very big base for us. But with this acquisition, we also added locations in Japan, Philippines and Australia. We also strengthened Latin America, because this company has a presence in Mexico. And it also strengthens our existing presence in America, Colombia, Chile, and so on.”
The company said it is not looking at more acquisitions but is keen on making 2022 the year of integration.
“So 2022 is all about integration, driving synergies and assimilating all of them,” Kumar said. “We’ve had a very successful track record. We acquired a company in the US in 2009; we acquired a company in the Netherlands in 2015. And many of the key people from those acquisitions are still with Prodapt in significant roles. So our focus is to buy companies and integrate them very closely.”
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Avendus Capital was the exclusive financial advisor to Prodapt on this transaction while BDA Partners acted as the exclusive financial advisor to Synophic Worldwide, the company said in a statement.
