Cressanda Solutions Limited announced it has signed a non-disclosure and LOI with Bangalore based Lucida Technologies to acquire 100% of the issued and outstanding equity interests of Lucida and its subsidiaries.
Lucida Technologies is a Bangalore based digital technology company specializing in providing development and support services in leading edge technologies such as data analytics, artificial intelligence/ machine learning (AI/ML), full stack, mobile and Robotic Process Automation (RPA).
Lucida caters to multiple clients located in India, Malaysia, Singapore, the USA, the UK, spanning across various domains and industries. Lucida reported an annual revenue of Rs. 8.95 Crores as per the latest audited financial statements as on March 31, 2022, the statement said.
Lucida partners with its clients to ideate and develop quality products and solutions that leverage their own industry-domain expertise and marries it to their proven technology capabilities. Lucida has extensive experience in architecting, building, and supporting business critical technology platforms, according to the statement.
Both Cressanda and Lucida have great synergy opportunities to leverage scale and deepen the existing customer relationships with a wider array of technology and services offering, a statement said.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.