Datamatics Global services acquires Dextara Digital

Datamatics, a digital technologies, operations, and experiences company, on Monday announced the acquisition of Dextara Digital, a provider of Salesforce services, for Rs 143.4 crore. In a regulatory filing, the company said, “The company has agreed to acquire 80 per cent shareholding of the Target in the first tranche. Balance 20 per cent shareholding of Target to be acquired over a period of two years from the completion of First Tranche, subject to any extension as per the terms of Definitive Agreements.”

The acquisition, it said, will happen in three tranches. The first tranche (80 per cent of the shareholding) is expected to occur on or before April 30, 2024; the second tranche (10 per cent of the shareholding) is expected to occur between 12-14 months after the first closing date; and the third tranche (10 per cent of the shareholding) will occur between 12-14 months after the second closing date, subject to any extension as per the terms of definitive agreements.

“The total amount payable by the Company for the Transaction will be Rs 143,40,36,207 and another up to maximum of Rs 30,63,55,671 Contingent Consideration payable on the basis of achievement of certain business targets and milestones as detailed under the Definitive Agreements over a period of two years,” the company said in an exchange filing.

With the acquisition of Dextara Digital, Datamatics will expand its capabilities in the Salesforce ecosystem, enabling it to tap into the growing Salesforce market while further strengthening its position as a digital technologies provider.

Dextara Digital has worked on over 600 Salesforce projects for more than 150 global customers on products such as Einstein/AI, CPQ, Manufacturing Cloud, Health Cloud, Sales Cloud, MuleSoft, Service Cloud, and Revenue Cloud, amongst others. Additionally, Dextara Digital has developed purpose-built products such as Dextara CPQ, DXHealth+, and, DXTemplates, all available on the Salesforce AppExchange.

Rahul Kanodia, Vice Chairman and CEO, Datamatics, said, “We are excited to welcome Dextara Digital to the Datamatics family. This acquisition aligns perfectly with our growth strategy of focusing on hyperscalers and further strengthens our capabilities in the Salesforce ecosystem.” He further added, “Along with deep Salesforce expertise, solution assets, and extensive ecosystem relationships, Dextara brings an extremely capable management team and a broad clientele across industries that are of specific interest to us. With this strong addition to our portfolio, we look forward to helping our customers go deep in Salesforce.”

Sreekanth Lapala, Founder & CEO, Dextara Digital, said, “We are excited to be part of Datamatics. We will greatly benefit from Datamatics’ global presence, vast experience of working with global enterprise customers, and reputation of being a dependable executor of mission-critical work. We know our extensive Salesforce capabilities will further augment Datamatics’ Deep in Digital strategy and deliver value to its customers. We look forward to using Datamatics as a platform for our collective growth.” Financial Express