Kini advises Glodyne Technoserve on its acquisition of Comat Technologies

Mumbai-based technology infrastructure company Glodyne Technoserve has acquired Bangalore-based e-governance service provider Comat Technologies Limited in an all cash deal to increase the company’s hold in e-governance projects.

 The Delhi office of M.V. Kini & Co. advised Glodyne with a team led by Principal Associate Ashish Suman along with Senior Associate Shailendra Somavanshi and Associates Shailendra Sharma and Puneet Parihar.

 According to VCCircle, Bangalore-based Comat has raised funding from a number of private equity and venture capital investors like Avigo Capital Partners, Enam, Elevar Equity (through Unitus Equity Fund) and Omidyar Network. 

Comat has been deploying information and communication technology (ICT)-based G2C (Government to Citizen) and B2C (Business to Consumer) services delivery in rural and semi-urban areas. Comat has a pipeline of projects in areas like Unique Identification (UID) services and has also implemented a PDS programme in Karnataka, which involved computerisation of food and civil services department across 10 million families in the state.

Glodyne has been executing projects like National Rural Employment Guarantee Scheme (NREGS) and focuses on financial inclusion, among others.