Gurgaon based Knowlarity appears to have changed its gear and this Sequoia backed company made its first leap in the inorganic expansion phase by buying its competitor Unicom Techlabs. Though the valuation of the company hasn’t been made public yet, this acquisition now brings Unicom’s 200 plus customers, spread across myriad segments like SMB, e-commerce, real estate, healthcare, education and media segment, under Knowlarity. Apart from owning Unicom’s IT domain and customers, Knowlarity will also get complete ownership over Intellectual Property. Accordingly, the company will surely prove to a huge asset, shared Shruti Agarwal, CFO, Knowlarity,
“We at Knowlarity are overwhelmed to have successfully acquired Unicom. It is also a great learning experience for all the consequent deals in the pipeline for 2014 which will take us further towards our goal of market consolidation. Knowlarity is more than willing to help startups looking for an exit option in a fast consolidating market. We have more acquisitions planned in the coming year which is definitely a promising start to 2014 for all of us at Knowlarity,”
Essentially, Shruti has suggested that the acquisition of Unicom is just the beginning and the company is actively seeking other smaller companies to take–over and absorb their talent and technologies. The company’s top management had earlier confirmed that the company is open to acquiring a couple of firms and was looking for those Indian cloud firms that are currently facing problems and finding it difficult to survive in the market.
Interestingly, Unicom was close to breaching the Rs. 1 Crore milestone in revenue for this year, but felt the need to offer a much better platform to its customers, shared Puneet Kaura, founder of Unicom,
“Owing to the competitive edge in the IT sector, we decided to take the initiative of seeking help from the industry experts and Knowlarity being the leaders were among the finest options we had. We drew the deal to expose our customers to a more refined outlook, expert technological advancements and advanced ways of servicing the customers,”
Cloud Based Technologies, especially Telephony, is still in its nascent stage in India. Though the world has readily accepted such forms of communications, Indians are apparently still content with Mobile Based Voice Communications as well as Video Conferencing. Hence companies like Unicom or VoiceGain may have been finding it difficult to convince potential customers to shift and may have ended up handing over their operations to a relatively more popular and mainstream company. What do you think?
Image Source | www.knowlarity.com