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regular-article-logo Saturday, 22 June 2024

Indus Net Technologies to invest around Rs 8-10 crore to acquire stake in Prime Infoserv

'We would pick up a 51 per cent stake in the business over a period of time,' said Abhishek Rungta, founder and CEO of INT

A Staff Reporter Calcutta Published 21.05.24, 11:40 AM
Abhishek Rungta (left), founder and CEO of INT., and Sushobhan Mukherjee, co-founder and CEO of Prime Infoserv,in Calcutta on Monday

Abhishek Rungta (left), founder and CEO of INT., and Sushobhan Mukherjee, co-founder and CEO of Prime Infoserv,in Calcutta on Monday Sourced by the Telegraph

City-based IT services company Indus Net Technologies will invest around 8-10 crore to acquire a strategic stake in Prime Infoserv, which specialises in governance, risk, compliance and managed security services.

“We would pick up a 51 per cent stake in the business over a period of time,” said Abhishek Rungta, founder and CEO of INT.

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“The Indian cybersecurity market is expected to reach $10.90 billion by 2029, growing at a compounded annual growth rate of 18.33 per cent. By investing in Prime Infoserv, INT. is strategically positioned to capture a significant share of this rapidly growing market,” he said, adding that the company would be able to cater to customers of Prime Infoserv in Bangladesh and West Asia, besides broadening operations in India.

Rungta, who will also join the board of Prime Infoserv, said the investment will offer the opportunity to provide cybersecurity services to its clients as well in banking, pharma, FMCG sectors among others.

“From threat detection and response to threat prediction and prevention, we will help organisations of all sizes to become more secure and resilient,” he said.

Sushobhan Mukherjee, CEO of Prime Infoserv, said that the capital infusion will fortify the company’s capabilities to cater to bigger companies as well as expand. The company is looking to grow its business from around 10 crore to 50 crore over the next five years.

“Becoming part of INT. is an opportunity for us to deliver even more value to our growing client base and we are excited for the next steps of our journey together,” said Mukherjee.

INT. had acquired digital marketing firm Techshu in 2016 and has been able to expand significantly.

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