On Tuesday, the shareholders of Udupi-based Robosoft Technologies Pvt. Ltd. signed a definitive contract to sell the company to Japan’s TechnoPro Holdings, Inc.
Today, @Robosoft signed a definitive agreement with Technopro Holdings of Japan for sale of 100% stake in the company I founded. The journey started with blessing from my mother and felt it fitting to end with one 🙏. More at: https://t.co/I47QgDBnhW pic.twitter.com/Sj5nPqTDOv
— Rohith Bhat (@rohithbhat) August 10, 2021
The founder and Managing Director of Robosoft, Rohith Bhat, added, “Robosoft has had a phenomenal journey over the last two decades and has grown by leaps and bounds during this period. The partnership with Ascent Capital and Kalaari Capital heralded a strong growth era for us and I am very happy that we are handing over the reins of the Company to a global player like TechnoPro.”
Robosoft’s net sale for FY21 was ₹184 crore, jumping 89 per cent from ₹97.4 crore in the previous year. The net income of the company was ₹49.4 crore in FY21, increasing by 170 per cent from ₹18.2 crore for the year ending March 2020.
The Udupi-based company had raised funding from Kalaari and Ascent Capital in the years 2011 and 2008 respectively. It was one of the first companies to build a centre in the city and employees more than 800 persons servicing customers in Europe, Japan, the US and India.
TechnoPro specializes in IT, engineering and R&D and comprises of over 20,000 employees. It will purchase 80 per cent of the shares in the first tranche and the remaining 20 per cent in a year, where Rofosoft will attain the status of a wholly-owned subsidiary.
