Provectus IT has acquired Eastern European mobile application development service provider Appmade Lab in an effort to expand its portfolio of service offerings.
This cash and equity transaction brings to Provectus IT over nine years of consumer-facing solutions development experience of Appmade Lab across all major mobile platforms, besides adding a list of global clients and start-ups worldwide.
The newly created mobile practice "Application Studio" places Provectus IT as a big player in mobile application development with a combined annual income in excess of $1.8mn.
Provectus IT chief executive Gene Galanter said they are proud to have acquired Appmade Lab which is the ‘crown jewel’ in the field of mobile application space and are keen to consider further acquisition partners in 2011.
Appmade Lab managing director Artem Petrov said together with Provectus IT, they will be able to offer clients a much broader, richer services.
"Leveraging Provectus IT’s deep domain expertise in building enterprise software applications we can now offer critical new services such as enterprise mobile solutions development," Petrov said.
