US Company Makes First Cross-Border Acquisition of 2016 in India

Chennai, March 23, 2016 (Newswire.com) - As global equity markets fluctuate back and forth between pullbacks, corrections, and recessions, one group of small companies seem to be catching the eye of global investors.  India has always been a part of the discussion when exploring stable economic growth.  Now, Indian startups are seeing the limelight as both domestic and international investors hope to be a part of the India growth story.  

MyCove Solutions, a New Jersey based company, announced in early January of this year, the acquisition of Genius Information Clique (GIC), a Chennai, India-based software development company.  The Chennai  startup with a staff of 15 focuses on web technologies as they look to capitalize on the growing technology needs both in the corporate as well as the consumer space.  “We see the daily changes that technology brings to our lives, and this is just the beginning”... says Vinoth Kumar, CEO of GIC… “We understand our capabilities and our market.  We stay focused on what we do well, and now with MyCove, we can expand our sales channels to the US and other international markets.”  Anand Pathuri, head of strategy at MyCove says “we are very excited to have the GIC team in India be part of our growth.  The team is talented and has depth to their skills.  Our combined capabilities will give MyCove a presence in India, which is one of the fastest growing technology adopters in the world.”

- US startup sees good value in Indian software market - Domestic Indian market is a good test bed for technology - consumers are early adopters and tech savvy - Combined resources of MyCove and GIC create a stable cross-market platform - India is in a good position to reap benefits from global downturn - Indian technology firms to drive growth in 2016

Senthil Raja, Marketing Consultant

Anand Pathuri sees uncertainty in the US as an opportunity to plan ahead and prepare for the next cycle of growth. With many on wall street, trading in big cities and year-end bonuses to take a chance on stock options in international business, Indian startups are well positioned to attract strong talent.