June 8, 2016 4:14 pm | Updated 4 years ago.
Sonata Software had acquired IBIS (Interactive Business Information System Inc) supply chain software service company in 2015.The organization registered a four percent revenue growth in terms of dollars at USD 28.5 million and 3.6 percent revenue growth in currency terms to Rs 540.9 crore. However, operational efficiency slightly fell to Rs 50.03 crore as against Rs 56.14 crore . This growth is driven largely by business from global markets in the US and the UK. IBIS‘s contribution to revenue will be around USD 10 million.
Prasanna Oke , CFO of Sonata Software, in an interview with Reema Tendulkar & Nigel D’Souza on CNBC-TV18 mentioned that the acquisition of IBIS will help Sonata Software do business in the international markets. He further reiterated that Sonata Software will continue to grow globally as the revenue generated from this segment comprises of about a third of the total revenue and almost 80 percent of the company’s margins. The company is focused on augmenting its business in both America and Europe.
Date of Publication: May 27, 2016