Crayon acquires Chennai based Kryptos

Norway based Crayon announced its entry into the Indian market through the acquisition of Chennai based Kryptos Networks. The company, among the top 10 Microsoft partners in the world, has acquired 80% of Kryptos and plans to invest about $10 million in the Indian market over the next two years.

Kryptos operates in the software licensing space working on a pay-per-use model. It manages licenses of leading software products including that of Microsoft, VMWare,Symantec andCitrix to service roviders including Infosys, Wipro and HCL in India. Crayon operates in the same space and has presence in over 23 countries. It is part of he $5-billion Crayon Group.

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.