Through this acquisition, all assets and intellectual properties of WebTag will be transferred to a new entity named SuperiorTag Business Solutions India Pvt Ltd, SBS India.
Nagesh Gadde will be heading the new firm as director, operations for SBS India. The board of directors agreed to increase the capital investment to expand the research and development centre in Hyderabad.
"SBS sees this strategic acquisition as a move to further expand its operations, accelerate next growth phase in terms of people, processes and technological advancement," said Adel Eid Yousef, chief executive officer of SBS Group.
Established in February 2006, WebTag was earlier involved in web designing and development. In the middle of 2008, it expanded into the global market and shifted its focus to web application and contract software development.
By 2009, the company developed more than 90 projects in web integration, computer games, web design, and software development.
Dubai-headquartered SBS specialises in integrated solutions delivery with a focus on healthcare software solutions. It has presence in the Middle East, Egypt, India and Qatar. SBS collaborates with Information system providers such as Thomson Reuters, PowerHealth, InfinittHealthcare and MAK Systems to offer solutions to clients in the Gulf region.
(Edited by Joby Puthuparampil Johnson)