Omnesys Technologies, a Bangalore-based provider of software for securities trading and order-management systems, has acquired a majority stake in Harsa IT Solutions, a Chennai-based provider of back office and wealth management products for an undisclosed amount.
Narasappa, Doraswamy & Raja advised Omnesys with a team led by Partner Siddharth Raja along with Senior Associate Neela Badami and Associate Mukund Thirumalai Srikanth.
Harsa IT was advised by its in-house team.
ET reports, with this acquisition, Omnesys will be able to provide end-to-end solutions to the broking community including brokers, banks, hedge funds, institutions and other customers.
Harsa IT founded a decade ago, sells online broking back office solutions such as integration of accounting, operations and customer relation management to stockbrokers operations.
Omnesys, which provides solutions to over 200 institutions including Aditya Birla Group, Reliance and IDFC, is doing revenues of around Rs 50 crore. It competes with IT majors such as Tata Consultancy Services and Financial Technologies.