Summary:
more-inGSS Infotech Inc., a wholly owned subsidiary of Hyderabad-headquartered IT service provider GSS Infotech Ltd, has signed a share purchase agreement for acquiring 100% shares of US firm Nexii Labs. GSS Infotech CEO Bhargav Marepally said GSS would “continue to look for synergetic acquisitions to strengthen focus on building technology expertise such as block chain, machine learning and artificial intelligence and building expertise industry verticals such as healthcare.” Nexii Labs, which after the acquisition would become a wholly owned step-down subsidiary, brings a strong capability in the area of automation for GSS’s existing cloud and infrastructure management practice. Stating this, a release from GSS said Nexii has some of the Fortune 500 companies as its customers with revenues of about $1.8 million for FY 2018..