The India tech world saw a change as ePoise Systems, a hiring automation product startup was purchased by Zoho Corporation, an online-productivity based software company. The acquisition is something new for the Chennai-based Zoho Corporation as they look to expand their operations.
Zoho Corporation was founded in 1996 and has developed over 40 business applications in the office niche including HR and finance applications. They have focused on cloud-based applications which houses SaaS applications and tools to help online productivity for offices. Zoho Corporation has a user base of over 45 million, will this acquisition increase their user base? Will this acquisition be the first of many for Zoho? Only time will tell.
ePoise Systems is based out of Bengaluru and was founded in 2013 and has focused on an automation process which speeds up the hiring process for businesses and recruiters. ePoise has used this automated process to great effect in raising efficiency for hiring processes for business and recruiters who have a large volume of candidates to hire. This purchase comes on the heels of Zoho Corporation’s release of its proprietary Office Suite to its user base. This was positioned as a collaborative and alternative set of tools compared to Google and Microsoft’s own office software.
Zoho Corporation has high hopes with this purchase of ePoise Systems and is looking for a fruitful future between the two companies. To expound on this, Zoho Corporation CEO Sridhar Vembu had this to say, “The combination of Zoho’s global footprint and depth of product portfolio and ePoise product capability and talent will add value to our customers. We are open to such tech-focused acquisitions. We look for whether the acquisition plays well into our existing product portfolio, and more importantly if there is a cultural fit at a team level.”
ePoise Systems seems to be on the same wavelength as they are looking to expand their reach and with the established user base of Zoho, ePoise positions themselves nicely to pick up many more users with cross-promotion between the two brands. The story will play itself out during the rest of this year to see if this was a great pairing or not.