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Business News/ Companies / Norway’s Crayon group buys 80% in Chennai-based Kryptos
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Norway’s Crayon group buys 80% in Chennai-based Kryptos

Kryptos will function as the software licensing firm's back office in India and handle back-end processes for Crayon's global clients

With the acquisition of Kryptos Networks, the Crayon Group will expand to seven cities in India from the current four.Premium
With the acquisition of Kryptos Networks, the Crayon Group will expand to seven cities in India from the current four.

Chennai: Norwegian software licensing firm Crayon Group on Tuesday said it has bought 80% in Kryptos Network Pvt. Ltd, a licensing and cloud advisory company for 24 crore in an all-cash transaction.

Crayon Group is a Software Asset Management (SAM) firm that offers licenses from Microsoft Corp., Adobe Systems Inc., Symantec Corp., Citrix, VMware Inc., Oracle Corp., International Business Machines Corp. (IBM) and others. The Chennai-based Kryptos Network was founded by Prasanna Ram, who is also its chief executive officer (CEO).

Kryptos will function as Crayon’s back office in India and handle back-end processes for Crayon’s global clients. With this acquisition, Crayon Group will expand to seven cities in India from the current four. It plans to double its headcount to 100 consultants by March.

“With this entry, we are confident of adding more value to the services we offer to large clients globally, that have presence in India, and also to the organizations here," said Jens Rugseth, CEO of Crayon Group.

“I am confident that India will emerge as one of our key locations and will contribute significantly both in terms of services to clients and revenue to the group," he added.

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Published: 12 Aug 2014, 04:38 PM IST
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