Thiruvananthapuram: Irvine, California-based NetObjex Inc has acquired Serventire Global, a Blockchain solutions provider, based in Technopark.
The terms of the deal were not disclosed.
NetObjex, which deals with technology that leverages artificial intelligence and Internet-of-Things (OT), plans to leverage Serventire Global's expertise in Blockchain protocol development.
Serventire's customer base is spread across four continents. NetObjex has operations in North America and has offices in India and South East Asia.
It has partners and representatives in Middle East and Latin American countries.
Seventire has twenty employees and all of them would now work for NetObjex.
“We are not only broadening our product offerings, but also now posses the depth and breadth of skills and personnel to engage and assist clients globally,” Raghu Bala, chief executive officer of NetObjex said in a statement.
“This acquisition provides us a platform to accomplish bigger goals with a broader reach. The market for distributed ledger technology is growing rapidly and we believe the combined entity is a formidable global player,” Georgey Jacob, chief executive officer of Serventire Global.