Robosoft Technologies, an India-headquartered app development studio, said on Tuesday it has reached a definitive agreement to sell the business to Japan’s IT services firm TechnoPro for $108 million.
Founded in 1996 in Udupi, a small town in the Southwest Indian state of Karnataka, Robosoft Technologies started its journey as a software development firm.
It was one of the earliest firms globally to be certified as Mac OS developer by Apple and has been recognized by the iPhone-maker several times in the decades since.
“We knew mobile was going to be big with the launch of iPhone and the App Store ecosystem. We began building mobile apps for clients across the globe and there’s been no looking back,” the companies describes on its website.
Robosoft, which counts Ascent Capital and Kalaari Capital among its investors, has courted clients operating in several categories including games, news, sports, utilities and lifestyle and expanded its offerings to include product advisory, and tools for design, engineering and analytics.
The original app for the Indian news network NDTV, for instance, was developed by Robosoft. Some of its other clients include media giant Viacom and McDonald’s India. It has clients in the U.S. and Middle East as well.
In a statement on Tuesday, Robosoft said its current management team will continue to lead the firm. “Robosoft has had a phenomenal journey over the last two decades and has grown by leaps and bounds during this period. The partnership with Ascent Capital and Kalaari Capital heralded a strong growth era for us and I am very happy that we are handing over the reins of the Company to a global player like TechnoPro,” said Rohith Bhat, Founder and Managing Director of Robosoft.
“We look forward to a close collaboration with Robosoft in the company’s next phase of growth and see tremendous synergies between TechnoPro and Robosoft,” said Takeshi Yagi, President and Representative Director and CEO of Tokyo Stock Exchange-listed firm TechnoPro.