US-headquartered IT services firm FutureTech Holding Company today announced that it has completed the acquisition of Ellicium Solutions, a Pune-based big data and artificial intelligence company. The financial terms of the deal were not disclosed.
Founded in 2005, FutureTech is an IT and IT-enabled services firm with a presence in the healthcare, financial and technology sectors.
Sravan Vellanki, chairman, FutureTech said, “With a deep expertise in AI and Data Science, Ellicium is well poised to capture market share and cross-sell to the existing customer base of FutureTech,” said Sravan Vellanki, chairman, FutureTech. He added that the company would continue to look at inorganic opportunities as it expands its offerings and geographical spread.”
Ellicium will align itself with Emergys, a FutureTech portfolio company and work closely with Vijay Ghatge, MD, Emergys India and Jay Chopde, CEO, Emergys for business expansion and cross-sell opportunities to jointly carve out a niche in the rapidly growing digital solutions and services space.
“It is our pleasure to collaborate with FutureTech to expand our customer outreach. We have grown organically and it is time to go in the big league with the help of global presence of FutureTech. We look forward to expanding our footprint in the BFSI, healthcare and manufacturing verticals by leveraging FutureTech’s vast experience in these areas,” said Kuldeep Deshpande, CEO, Ellicium. Set up in 2012, Ellicium has an office in Santa Clara, US. LegaLogic was a strategic advisor to the deal.
