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Indus Net Technologies invests in Prime Infoserv to enter cybersecurity

Digital transformation company, Indus Net Technologies (INT.) on Monday, said it is making a strategic investment in Prime Infoserv to foray into the cybersecurity business.

Kolkata-based Prime Infoserv is one of the leading players in the cybersecurity domain with global clients.

“Right now, we have three major service pillars — application development, analytics and digital marketing. We are creating the fourth pillar in the business, which is infrastructure. Infrastructure consists of cloud and security. So, our strategic investment in Prime Infoserv is actually the movement towards the fourth pillar, bringing in the capabilities of cybersecurity inside the company,” INT. Founder and CEO, Abhishek Rungta told businessline.

As per the deal, Kolkata-headquartered Indus Net Technologies will be investing around ₹8-10 crore in Prime Infoserv over the next two to three years. After the completion of this transaction, Prime Infoserv will become a subsidiary of INT.

“We are investing ₹8-10 crore over the next two-three years in this business. At the end of our currently agreed deal, INT will have a 51 per cent stake in Prime Infoserv,” Rungta said, adding the Indian cybersecurity market was expected to reach $10.90 billion by 2029, growing at a CAGR of 18.33 per cent.

Founded in 1997, Indus Net Technologies’ turnover stood at around ₹120 crore in the last financial year. The company currently has physical presence in six cities in India. It also has global offices.

“We are trying to grow our turnover by 25-30 per cent per annum. We should clock more than ₹200 crore turnover in the next three years,” Rungta added. The Hindu BusinessLine

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