Announcing this, Lambent Technologies CEO Shashikant Chaudhary said the company would prefer to call it a "merger" as it was a "conscious decision taken by the management to enable the company to grow to its full potential."
"We wanted to explore, go beyond the boundaries of traditional work culture and limited project delivery experience," he said.
Lambent as a company was highly successful, since its inception in 2000, but found it difficult to capture a larger clientele working out of Nagpur.
"We couldn't just wait for projects to fall into our laps. Nagpur is too remote a place that is yet to figure on the international IT map," said Choudhary.
A better way was to merge with a larger company, which already had a bigger client base and had expertise in giant sized projects. "This move will not only benefit Lambent and its employees, but also for the region as a whole," said Chaudhary.
The merger will generate a lot of employment opportunities with the company planning to almost double their employee strength within a year. Lambent currently employs 225 software engineers, he informed.
Chaudhary however, refused to disclose the deal size, saying that it was in the final stages of completion. He added there would be no change in the management of the company or its name. However, there will be one representative of Lambent on the board of Induslogic.
Induslogic, he said, was a highly focussed product engineering services firm based in the United States, with an employee strength of over 1,000 and have expertise in delivering services to offshore product engineering companies.
The company has developed a unique model of partnering with like-minded professional outfits to create a dedicated virtual offshore development centre.
Among others, their partners include America Online, IBM, Polaris, and Mobile365, he said.
A specialist in financial and telecom segment, Induslogic will make use of Lambent's expertise in the wireless segment to address a larger customer base.
Lambent already has fully operational 25,000 square feet area in the Lambent IT Park at Harihar Nagar, Besa, in Nagpur while another 35,000 square feet area is still under construction.
The company is planning to construct a seven storey building there. Out of these seven storeys, operations in the first two floors will start from July. Lambent's turnover for the last financial year was Rs 12 crore and the company grew by almost 100 per cent, Chaudhary informed.
