Apparently, Wednesday is the day to be acquired. Today, the announcement that Broech Corporation (which does business as TUSC) was acquired by Mumbai, India-based Rolta for US$45 million. TUSC will become a wholly-owned subsidiary of Rolta and Joe, Rich, and Brad will continue to lead “TUSC – A Rolta Company”, at least for now.
I definitely think that most people could not have foreseen TUSC being acquired, especially by an Indian firm, but it looks like Acquisition Wednesday is just full of surprises! I know things must have changed since I worked there as I certainly could never have imagined this event coming to pass. I’m unable to predict how TUSC (or any 17+-year-old private firm) will fare as part of a public company. Challenging times and big changes are in store I suspect.
For now, you can read the press releases here and here.
This seems to somewhat validate an article that was tweeted yesterday by Puneet Thapliyal. It was a posting that discussed the challenges that Indian firms are experiencing now with higher wages and many other factors. Thanks for sending it along, Puneet!
I’d love to hear your thoughts on the acquisition in comments below.