Glodyne Takes MTS to the Education Sector
Glodyne Technoserve Limited, a technology infrastructure management services company has acquired Mumbai based Broadllyne Technologies Ltd, a managed application services provider in the education sector.
The acquisition broadens Glodyne’s portfolio of managed technology services and adds another dimension of expertise in the sunrise education industry.
Broadllyne has a base of more than 173 clients subscribing to its services and an execution pipeline of Rs 159 crore to be rolled out in the next 18-24 months across 1603 schools/colleges. The company’s current operating margin is 27% and the management is confident with its strong business model and Glodyne’s reach and strengths it will be able to improve the same.
Annand Sarnaaik, chairman and MD, Glodyne Technoserve said, Broadllyne acquisition is a strategic initiative to penetrate the rapidly growing education sector with end to end managed services offerings. The government spent on education is 3.7% of GDP and private spend is in excess of Rs 50 billin. There is a huge untapped opportunity for managed IT services in both the government and private education space.
The acquisition of Broadllyne lends significant synergies and benefits with addition of technology and domain expertise and key client relationships to address the opportunity in this sector.
Shantanu Rooj, managing director, Broadllyne Technologies said, With Glodyne’s financial strengths/ strong presence in the government sector and its experience of executing large public-private partnership based projects; we will be able to extend our managed services to government educational institutions.
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