Mumbai, July 29 -- Mumbai-based Blue Cloud Softech Solutions has acquired New Jersey tech firm AIS Anywhere through a 100% share swap valued at Rs 730 crore. The deal involves issuing 31.68 crore Blue Cloud equity shares at a premium of Rs 22.06 per share in exchange for AIS Anywhere's 6.4 crore shares, establishing the US company as a wholly-owned subsidiary at a 4.95:1 swap ratio.
The acquisition accelerates Blue Cloud's entry into the US market, leveraging AIS Anywhere's 2024 revenue of $83.69 million and expertise in AI, IoT, and cybersecurity. Managing Director Krishna Babu Vankineni emphasized the alignment with Blue Cloud's global growth vision, noting it will unlock new revenue streams and enhance digital offerings for internationa...