Hamirpur (H.P.) lad sells firm for Rs 200 crore

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Hamirpur (H.P.) lad sells firm for Rs 200 crore

Post by Seva Lamberdar on Wed Nov 30, 2016 10:02 am

Hamirpur, November 29

Aditya Sood, a young entrepreneur from the city, has sold his software company, Calm.io, for over Rs 200 crore and also secured the top position in the buyer American firm Nutanix.

The achievement of Aditya has not only brought laurels for the town but also has become an inspiration for those youth who are running after jobs even after achieving academic excellence. Notably, Aditya had done his BTech from the National Institute of Engineering, Calicut, in 2006 and established his own software company in 2007 ‘Idea Devices’ and later renamed it Calm.io. The company was the front-runner in automation software development with specialisation in software for stock exchange operations. Reportedly, Calm.io deal was (as one referred to in a Nutanix S1 amended filing) $1.2 million in cash and including 528,517 shares of Nutanix. Aditya was also appointed as director expansion of the company. Sources revealed that the net worth of the company was estimated around Rs 230 crore (1 crore = 10 million).

Aditya said the offer of Nutanix was good so he did not hesitate to merge the company with Nutanix, which would help in further mutual growth. He said the acquisition would help Nutanix to strengthen its enterprise cloud platform.

Aditya Sood said the company had been merged with Nutanix. He said post-merger both the companies planned to combine Nutanix’s design-first vision and Calm.io’s application-centric approach and bring application mobility across hybrid clouds.

“We at Calm.io had always believed in Schumpeterian creative destruction. We decided to disrupt ourselves by tackling application-centric, dependency-aware automation. With this second arc we tackled cloud abstraction and developed in one fell swoop, while enabling functionality for the modern enterprise,” he said.

Meanwhile, his father Naresh Kumar Sood said he knew that Aditya had extraordinary intellect but he had proved himself his beyond father’s expectations.

Seva Lamberdar

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