US-based mobile technology company ActMobile Networks has acquired a Bangalore-based technology start-up Colimetrics Software in an all-stock deal.
US-based mobile technology company ActMobile Networks has acquired a Bangalore-based technology start-up Colimetrics Software in an all-stock deal. The two-year-old company has built a product that helps companies improve employee productivity.
The deal will see all four employees of Colimetrics including chief executive Pankaj Kulkarni join the Silicon Valley-based company. "They liked us and said, 'we want to have an engineering team'. We felt it was a good thing to do," said Kulkarni, a computer science engineer from IIT Madras. He co-founded Colimetrics in 2012, along with former colleagues Phaniraj Raghavendra and Rakesh P Gopal.
Founded by serial entrepreneur Andrew Foss and former Seagate executive Tim Bush, ActMobile sells technology that helps organisations improve transactions on mobile phones, making it faster, cost effective and secure.
Colimetrics has developed a technology product called 'Key-Mails', which uses artificial intelligence to solve the problem of email overload, by prioritising emails in the order of their importance. It has also developed a data analytics engine that mines data to improve their employee productivity.