Calcutta, Nov. 22: RPG group firm Zensar Technologies today said that it had entered into an agreement to buy US-based IT solution firm Akibia for $66 million.

Founded in 1988, Akibia is an independent IT services firm with offices in the US and Europe.

The transaction, which is subject to government approvals and the satisfaction of customary conditions, is expected to close in this quarter.

“The combination of the two companies will enhance the value Zensar delivers to the customers. It is strategic to Zensar as Akibia is a key player in the infrastructure management space with revenue of over $100 million and a robust management team in the US and Europe,” Zensar’s chairman Harsh Goenka said.

The acquisition will diversify Zensar’s information security business by adding Akibia’s system integration and consulting expertise in the network security, compliance and risk management markets.

“This acquisition will make us stand and compete with the top five infrastructure management players,” Goenka said.

“Zensar’s infrastructure consulting and data centre management capabilities with Akibia’s cumulative knowledge and experience will give us a full life cycle capability to service global customers and over 300 global associates to the Zensar team,” Ganesh Natarajan, managing director of Zensar, said.

The Zensar scrip ended the day at Rs 161.80, up 2.44 per cent against its previous close of Rs 157.95 on the Bombay Stock Exchange.