IT services company Zensar Technologies has signed an agreement to acquire Indian retail technology provider Keystone Logic Solutions and its US subsidiary in a Rs1.32bn ($20.3m) deal.
Under the terms of the agreement, Keystone Logic will be Zensar Technologies’ wholly owned subsidiary.
The acquisition will allow Zensar to enhance its portfolio to global retail and consumer brands using Keystone's expertise on omnichannel retail order and warehouse management.
The business of Keystone Logic Solutions will become a part of Zensar Technologies once the transaction concludes.
Zensar Technologies CEO and managing director Sandeep Kishore said: “Keystone continues to augment the Zensar omnichannel services portfolio by bringing order management and warehouse management expertise.
“With the deep skills in the dominant fulfilment solution in the retail market and expertise in direct to consumer fulfilment, this acquisition fortifies Zensar’s digital commerce offerings and furthers the company’s ability to work with retailers to improve outcomes for their customers, and to drive innovation through digital supply chain.”
Omnichannel and digital supply chain company Keystone Logic helps global retail and consumer brands with implementation of their order management and warehouse management.
Keystone Logic founder and CEO Ravi Joshi said: “We have worked with innumerable retailers to unlock their full potential by reinventing their supply chain strategy by digitally fortifying their supply network through our order management and warehouse management expertise.
“Joining forces with Zensar will give us access to greater resources, and will extend our global reach, to help us in our mission to enable retailers worldwide to derive significant and sustainable value from their supply chain investments while transforming their supply chain as an engine of future growth.”