Cumulux founded in 2008 by former Microsoft employees Paddy Srinivasan (left) and Ranjith Ramakrishnan provides cloud computing services to customers such as US automaker Ford Motor, power generation equipment maker General Electric and Unicef, the United Nations Children's Fund reports Economic Times India and DealCurry
"Aditi is betting its business on the cloud. We expect over 50% of our future revenues to come from cloud computing", said Pradeep Rathinam (right), Aditi Technologies CEO.
Bangalore-based Aditi is a $90m privately held company with 1,400 employees, focused on industries such as financial services, online, mobile, gaming and bioinformatics.
Founded by technology entrepreneur Pradeep Singh (left) the acquisition will help the company offer cloud solutions to customers such as Swiss bank UBS, Royal Bank of Scotland, Nomura and Barclays Capital.
In 2007, the company acquired the intellectual property rights of MindAlign 6, an application meant for enterprise group chat from Parlano.
"This acquisition of Cumulux, which itself was a leading partner to the Microsoft Azure cloud business unit, seems like a very natural and synergistic investment decision," Ravi Gururaj, (right) VP-products, cloud platforms group, at global technology firm Citrix Systems is quoted. Gururaj's Bangalore-based cloud start-up, VMLogix, was acquired by Citrix last year.
Last month Citrix also acquired UK-based App-DNA which provides application migration and management solutions to customers such as Target, Fidelity, Morgan Stanley and ExxonMobil.
Acquisitions of App-DNA and Cumulux are evidences that cloud vendors are reinforcing their product portfolios and expertise as they handle an increasing volume of virtualisation and cloud transformation projects.
Other M&A transactions in the cloud computing space include Chennai based cloud computing firm - Vembu Technologies acquiring CloudNucleus, in a deal valued at around $10m. Citrix also acquired Bangalore-based cloud start-up, VMLogix some time ago.
Cloud computing solution providers in India include Zenith Infotech's PROUD; TCS's ITaaS; Chennai-based OrangeScape's OrgangeScape Cloud; Cynapse India's Cyn.in; Mumbai-based Synage's DeskAway; TCS' ITaaS, and Infosys Technologies' cloud based solution for the auto sector.
To increase the speed of adoption, Aditi will invest $5m in Azure Acceleration Lab - the Azure-based rapid application development offering and will hire over 130 cloud developers to create a cloud services platform.
Aditi will roll out cloud services to enterprise markets and independent software vendors in the US, UK and India, as they migrate their applications to the cloud. According to Forrester Research, the global cloud computing market is expected to be $241bn in 2020 compared to $40.7bn last year. An EMC-Zinnov India Study, in July puts the cloud market in India at $400m and estimates it to grow ten fold to $4.5 bn by 2015.