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IndiSoft Acquires Microtek Systems

Tuesday, June 14, 2011 8:04 AM

Strategic acquisition allows software development company to expand

service offerings

Jun. 14, 2011 (Business Wire) -- IndiSoft, a technology development firm that focuses on systems for the default services industry, announced today its acquisition of Columbia, Md.-based Microtek Systems Inc., a software development and outsourcing services company. Through the acquisition, IndiSoft adds Microtek's strong Oracle expertise and enhances its independent business consulting services.

Founded in 2003 by Vasant Manwadkar, Microtek clients include U.S. federal government agencies, research labs and companies in the manufacturing, logistics, education, entertainment, financial service and insurance industries. The company provides multi-platform solutions and is proficient in enterprise systems and product implementation across several verticals, such as banking, insurance and healthcare.

"Microtek has the technology, management and consulting capabilities and experience to complement our software development services and RxOffice® platform," said Sanjeev Dahiwadkar, CEO and president of IndiSoft. "These specialized skills will enable IndiSoft to expand our focus and provide expert independent business consulting services. This acquisition demonstrates IndiSoft's commitment to growth opportunities that allow us to better serve clients and deliver competitive, yet cost effective solutions to meet the growing needs of the various markets we serve."

"Microtek specializes in providing high-quality services from top software developers and IT professionals," said Swati Manwadkar, president and CEO of Microtek. "IndiSoft and Microtek are a natural fit, and we expect to see growth in IndiSoft's capacity to manage projects across several industries, while still delivering expertise and personalized customer attention to its clients."

IndiSoft offers an array of professional services from consulting to complex software design and development. Its flagship product, RxOffice, provides customizable, robust document management, workflow and reporting capabilities and helps mortgage companies accelerate the loan modification process.

About IndiSoft LLC

Columbia, Md.-based IndiSoft LLC develops, licenses and supports a wide range of SaaS solutions for the financial services industry, including RxOffice Legal, RxOffice Mortgage Insurer and RxOffice Reporting Portal. IndiSoft continues to lead the innovation in transforming how the default servicing industry communicates and exchanges information. The company is offering its RxOffice® platform (patent pending) to mortgage insurers, investors, servicers, counselors and homeowners with secured communications technology and the infrastructure to enable transparent and real-time communication to speed up the decision and execution of the same. IndiSoft received the 2010 10X Award from Mortgage Technology magazine for having a lasting impact on the mortgage industry with its RxOffice technology, was ranked 259th in the 2010 Inc. 500 listing offastest growing private companies in the U.S., and was 15th in the financial services industryin the same ranking. For more information about IndiSoft visit its Web site at www.indisoft.us.

For IndiSoft
Media Contacts
Charlyne H. McWilliams, 301-933-5567
Sheryl Gudelsky, 678-781-7229

(Source: Business Wire )
(Source: Quotemedia)


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