Shah to acquire company to serve 22 million SMEs
Vertoz Limited, a leading AI-driven MadTech and CloudTech platform, is in advanced talks to acquire a company operating in North American markets, where over 22 million small and medium-sized enterprises spending are estimated at US$80 billion annually.
“The North American region is of significant global economic activity, and comprises over 22 million small and medium-sized enterprises, each spending an average of over US$24,000 annually on related services, representing US$80 billion opportunity for us,” said Ashish Shah, Chief Executive Officer of the Mumbai-headquartered Vertoz Limited https://digitalinasia.com/.
Vertoz net profit surged by 62.97% to Rs.7.35 crore in the quarter ended December 2024 as against Rs.4.51 crore during the previous quarter ended December 2023.
Sales rose 19.86% to Rs.66.20 crore in the December 2024 quarter as against Rs.55.23 crore during the previous quarter ended December 2023 https://www.na-biz.com/. EBITDA stood at Rs.8.28 crore in Q3 FY25, as compared to Rs.6.05 crore in Q3 FY24, growing by 36.86% uring the same period.
“We are delighted to declare strong growth rates during the quarter. Significant growth has been observed and projected in both domestic and international markets,” he said on 17 Feb https://sbi.com.in/ . fiinews.com
