The board of IT consulting firm Majesco has approved acquisition of 51 percent stake in Pune-based software technology firm, K2V2 for Rs 40 crore.
Pursuant to closure of Open Offer, the control and management of Majesco Ltd. is now with real estate developer, Aurum Group. Aurum Group had acquired majority stake in Majesco earlier this year. The Board of Majesco has approved the acquisition as an inorganic step in its objective of building a Proptech Ecosystem.
K2V2 provides Software as a Service (SaaS) products, services and Enterprise Software catering to the real estate Industry and holds wide portfolio of PropTech, real estate brokerage and digital marketing product and services.
Commenting on the acquisition, Ashish Deora, Founder and CEO of Aurum Ventures said, “With this acquisition, we have jumpstarted our journey of creating India’s first real estate technology ecosystem. K2V2 holds substantial market share in real estate CRM, sales automation and marketing. Our investment will fuel growth of K2V2 under their vastly experienced founders, Vikram, Vinayak and Ketan.”
Majesco’s investment is in line with its strategy to bring digital transformation in real estate sector by creating a proptech ecosystem covering customer digital Journey, property and asset management, development, investment and financing of assets.
Expressing his delight to be associated with the Aurum group, Vikram Kotnis, Co-Founder, K2V2 said “We have a solid foundation for growth in our end-to-end Solution for the real estate Industry. With a strong 200-member team with more than 10 years' experience in technology along with the growth capital now being infused by Majesco, we are looking to scale up our CRM and digital selling capabilities. This association will also help us take our flagship products, sell.do and Kylas (a SaaS based sales CRM for SMBs) to India and the globe," he said.
Majesco Limited is a listed company with BSE and National Stock Exchange of India Limited.
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