June 07, 2023 / 09:58 AM IST

R Systems International acquires 100% stake in Velotio Technologies

R Systems International has signed definitive agreements to accumulate Velotio, an India-based product engineering and digital options supplier.

With a group of over 300 engineers, Velotio combines complicated engineering, information experience, cloud-native, and design capabilities to construct modern merchandise for international prospects, together with NASDAQ-listed enterprises, and high-growth firms.

With this acquisition, Kalpak Shah (Co-Founder and CEO, Velotio), Chirag Jog (Co-Founder and CTO, Velotio), and the remainder of the Velotio group will associate with R Systems to assist scale Velotio’s enterprise, develop its engineering capabilities and speed up its progress.

R Systems International was quoting at Rs 341.10, up Rs 5.50, or 1.64 % on the BSE.