EDS to acquire RelQ Software for $40 million

Electronic Data Systems (EDS), the $21 billion global software services major, has signed a definitive agreement to acquire Bangalore-based software testing firm RelQ Software.

RelQ Software, with 700-people on rolls, had recorded $22 million revenues last year. According to industry estimates, the company is expecting to close the fiscal with $30 million in revenues.

EDS is understood to have paid around $40 million (around Rs 180 crore) to acquire this firm. No confirmation on this was available from EDS as no financial terms of the transaction were disclosed Read more at Business Standard