Mumbai, Nov. 22: KPIT Cummins Infosystems Ltd has acquired SolvCentral.com Inc, a US-based company providing business intelligence solutions, and Pivolis, a French firm offering offshore consulting services.

While KPIT will acquire a substantial stake in SolvCentral for $2 million, the Pivolis buyout will be for a consideration of 1.75 million euro, comprising 50 per cent cash and 50 per cent stock. KPIT said the acquisition of SolvCentral will create a new line of business that will provide its customers high-end services in the business intelligence domain. These services will enable customers to access, share and analyse information across their businesses.

KPIT will acquire the remaining stake in the US company over three years at a price related to the quantity and quality of revenues of SolvCentral. The acquisition of SolvCentral will be made through a mix of cash and stock options.

SolvCentral has been delivering high-end strategic consulting services to Fortune 500 clients globally for the past five years. The company is expected to gross revenues of $3.5 million this fiscal.

KPIT chairman and group CEO Ravi Pandit said, “Business intelligence being one of the highest growth areas in IT today and one of our major focus areas as well, the acquisition of SolvCentral will enable us to consolidate our presence in this space. SolvCentral brings with it a strong presence in the business intelligence domain. Through this acquisition, KPIT will also establish its presence in Washington D.C.”

On the other hand, the acquisition of Pivolis is expected to provide the company a gateway to France.

KPIT will pick up a majority stake in Pivolis now and the remaining over the next three years. The payment for the remaining stake will be based on the offshore revenues of Pivolis and will be a mix of cash and stock, a KPIT statement said.