Mumbai :Octant Interactive Technologies Ltd, a leading interactive technology company has announced the acquisition of Esha News Monitoring, a specialist leader in broadcast monitoring and analysis. Octant Interactive Technologies, primarily engaged in the development of software solutions has recently diversified into interactive technology space with the development of intellectual property rights and emergency health care services.
ESHA is a leader in providing broadcast monitoring and analysis to corporate houses, governments, NGOs and researchers.
The acquisition of Esha News Monitoring is a strategic fit with the existing business model and going forward the company will form three strategic business units. Mr R S Iyer of Esha News Monitoring will take over as Director and CEO, and will be steering the overall operations along with other board members. The acquisition brings together the industry’s strongest interactive platforms and most ubiquitous technologies for monitoring, managing and delivering content and experiences across industries.
Speaking on the occasion, L.V. Ramnarayan, Director, Octant Interactive Technologies, said, “The acquisition represents a significant step for Octant in our strategy to accelerate growth in our interactive technologies business. We are convinced of the compelling strategic rationale of this partnership and the terms deliver substantial value to shareholders. The established contacts of ENM with the government, corporate houses and decision makers will us help in leveraging our business of Emergency Medical Health Care”
R S Iyer, Director, Esha News Monitoring, said, “We are at the center of this interactive technology business, and together we will build on our combined heritage to redefine the ways of monitoring and analysis. By joining hands with Octant, we will be able to bring sound context and valuable information to a number of our customers. We will be able to significantly increase the depth and breadth of our coverage in the vastly underserved market. We also look forward to maintaining and enhancing the services and support provided to Octant’s existing and future customers.”
M/s.Firstcall India Equity Advisors Pvt.Ltd, Mumbai, is the advisors for the transaction.