Sonata Software shares surge 5% post acquisition of Quant Systems

Shares of Sonata Software surge in trade, up over 5% in trade on Thursday, after the co acquired Quant Systems, a Texas-based IT services corporation.

Sonata Software North America Inc., (SSNA) a wholly owned subsidiary of Sonata Software Limited (Sonata/Company), has signed a definitive agreement to purchase Quant Systems Inc. on February 22, 2023, by a stock purchase agreement.

This acquisition is in line with Sonata’s strategy to accelerate the growth curve and build scale. It will accelerate Sonata’s capabilities in Enterprise Data Analytics, Cloud modernization, Cyber security, Salesforce, Data Privacy, Adobe, and Digital & Mobile App solutions, including differentiated IPs for Salesforce (workbox.io) and Chatbot (Lisa) technologies. It will expand Sonata’s domain expertise in Banking and Financial Services, Healthcare & Life Sciences, Consumer/Retail, and others. It’s a strong leadership team with rich experience and a successful track record in client services, and technology innovation in the areas of Digital Transformation, Enterprise Data, Salesforce, Data Privacy, Snowflake, and Adobe.

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Samir Dhir, MD & CEO, of Sonata Software Limited, said, “We aim to be the fastest-growing next-gen Digital firm delivering Modernization & Digital outcomes for enterprises through our Platformation Framework. To achieve this vision, we have outlined some key strategic drivers to build scale through service offering expansion in Modernization, invest in BFSI and Healthcare & Life Sciences verticals, and build global centers. Quant Systems aligns to our strategic drivers and will enable us to win larger deals in our focus verticals and adds two large clients to our top 5 clients list.”

Srini Veeravelli, CEO, of Quant Systems Inc., said, “We are proud of our growth and the results we have delivered over the past 15 years for which we are thankful to our clients. Joining the Sonata family will enable us to take our innovative IPs and deep expertise to a broader clientele to solve complex cloud and data management challenges. This will also open up more growth avenues for our people and deepen the bench of valuable skills”