Mphasis to acquire US-based Wyde Corp

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Mphasis Ltd has signed a pact to acquire U.S.-based software vendor Wyde Corp. Post acquisition, Wyde, which has over 200 employees with insurance domain expertise, would operate as a product business of Mphasis. Wyde's revenue was over $30 million in 2010, its website showed. The mid-sized Indian software firm had acquired AIG Software Systems in 2009, its first buy in the insurance space.

“The acquisition demonstrates our focus on strategy execution,” Ganesh Ayyar, CEO, Mphasis said. “Mphasis will provide Wyde access to new markets and scale to provide implementation and integration services to our clients,” Pierre Barberis, Chairman of Board of Directors, Wyde said.

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