Perfomatix, a supplier of product engineering services with a focus on excellent AGILE software product development, has been acquired by US-based VRIZE Inc, according to a press release.
Through this partnership, VRIZE will be better able to provide its clients with cutting-edge data engineering and data science solutions by expanding the depth and breadth of its product and platform engineering services.
For almost 10 years, Perfomatix has been offering businesses across several sectors cutting-edge, technology-driven solutions in full-stack engineering, mobile app development, machine learning, IoT, UX/UI design, Cloud, DevOps, and RPA.
In Kerala, the firm intends to hire 500–1000 additional engineers over the course of the following two years.
Harish Mohan, Perfomatix Chief Executive Officer comments “The acquisition aligns well with the long-term objectives of Perfomatix to become a world-class product engineering company achieving hyper-growth and providing value to all stakeholders. We are excited at the possibility of offering a wider array of services to our clients in the digital & data realm and our team members have the opportunity to work on truly large digital transformation initiatives”.
Maloy Roy, VRIZE Chief Executive Officer comments “We found Perfomatix to be a natural fit for VRIZE, given the similarities in our culture, work methods, and above all our values of keeping our employees and our customers ahead of everything else. Not just in talks, but in our everyday actions and decision”.
With this purchase, VRIZE is better able to create digital products and platforms that are more comprehensively and broadly based. In an ever-expanding, frictionless digital world, we remain steadfastly devoted to our customers’ continuous journeys.
Perfomatix contributes important cross-technology skills to VRIZE through the fusion of AGILE software product development, starting with software blueprinting and wireframing and ending with deployments.
The investment banker for the deal is FinLead Services, a company located in Kochi. The legal counsel for Perfomatix was provided by M/s Omega Alliance, Advocates, and Solicitors, while M/s Nash Capital Partners handled the scant financial and tax due diligence.
