The move comes after the board of G7CR Technologies India approved the acquisition of the Dubai-based company, in which its Managing Director (MD) and Chief Cloud Architect Christopher Richard held a 49% stake in his individual capacity, while his Middle-East Partner Ibrahim had a controlling stake of 51% in it.
The acquisition was completed after Ibrahim bought a 51% stake for $6.5 million and the entity was merged with G7 CR Technologies India Pvt Ltd, which became one of its subsidiaries.
“This is a strategic acquisition for G7 CR Technologies India, as it will not only provide access to new businesses in the region and surrounding continents but also provide operational benefits to our existing customers,” Richard said in a statement.
G7 CR Technologies, which focuses on small and medium businesses, startups and independent software vendors, claims an annual turnover of $60 million.
“The latest acquisition is part of the company’s expansion plan, which plans to further acquire companies in Africa, Europe, the UK and the US and help businesses embrace the fast and agile digital cloud transformation,” the statement said. is.”
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