Itelligence expands Indian presence with vCentric acquisition
FYI, this story is more than a year old
SAP solutions, hosting and managed services provider Itelligence has acquired SAP reseller vCentric Technologies Private Limited as part of an ongoing growth strategy.
Sanjeev Deshpande, Itelligence India managing director, says the acquisition of the Hyderabad SAP software and services provider allows Itelligence expand its offerings throughout India, offering services across different geographies and different segments.
Norbert Rotter, Itelligence chief executive, says the acquisition, for an undisclosed sum, is the first step in the company’s expansion into the growing Indian IT market.
“With more than 1,300 employees, we are now one of the leading SAP partners in the subcontinent,” Rotter says.
Venugopal Uppalapati, past chairman of vCentric and now a member of the executive management team of Itelligence India, says “We are very excited to be part of the Itelligence family and together we will grow and serve our customer base in India and the subcontinent with best in class solutions and services offerings.”
vCentric has been SAP’s Partner of the Year in India for the last three years.
In April the company was named a SAP Digital Business Partner and, one month later, an SAP Recognized Expert Partner (DM<).
In May the company was among the worldwide finalists in the Pinnacle Awards for S/4HANA Partner of the Year. Itelligence itself was named SAP S/4HANA partner of the Year and SAP’s Digital Marketing Momentum Partner of the Year at the awards, where it was also a finalist for Hybris Partner of the Year for small and midsized companies and Platform Reseller of the Year.
In July Itelligence AG reported revenue and earnings for the year were ‘well up’ on the previous year. Revenue for the first six months of 2017 were up 16.4% to MEUR 416.2, on the back of an 8.9% organic growth and revenue growth from acquired companies (7.5%).
Earnings before interest and taxes was up 33.3% to MEUR 10.8, with orders on hand up 31.9% to MEUR 871.6.
Asia posted 20.0% growth, generating revenue of MEUR 7.2 in the first six months of the year.
Revenues were up across the company’s global operations, with Western Europe posting an 11.3% increase in revenue and United States revenue up 9.0%.