COMPAREX acquires IRIS Unified Technologies
The COMPAREX Group has acquired Indian software consulting and technology services specialist IRIS Unified Technologies Pvt. Ltd. The acquisition, closed on October 14th, follows the foundation by COMPAREX of an Indian subsidiary in Delhi earlier this year as part of its expansion in the Asia Pacific (APAC) region. It is planned that IRIS is to operate under the COMPAREX brand. The new company is said to focus on leveraging the significant potential of the Indian market for the COMPAREX Group. IRIS Managing Director Navin Kapur and his leadership team will continue to head the merged Indian organization with more than 70 employees.
Dr. Klaus Elsbacher, CEO, COMPAREX said, "I'm very happy to welcome IRIS and Navin Kapur to our team. Their portfolio and market position are the perfect fit for our company. With this addition, we will be able to fulfill two approaches to growth: we can expand our position in a newly established market and we will do so by investing in an acquisition. The third approach, i.e. the gradual development of a standardized portfolio at all subsidiaries within the Group, will be next on our agenda in India. Again, I want to stress my belief that India has the potential to evolve into the third-largest subsidiary within our Group. Now, we have come one step closer to achieving this target."
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