India, May 2 -- Nasdaq-listed SaaS major Freshworks has entered into a pact to acquire Delaware Corporation's Device42 for $230 Mn (approximately INR 1,919.7 Cr).

In an SEC filing, Freshworks said that the purchase price would be paid in the form of $215 Mn of cash and an equity rollover of $15 Mn. As a part of this acquisition, Device42 will operate as a wholly owned subsidiary of Freshworks but the employees will be retained within the company.

Device42 is a US-based company which offers tech support to companies for IT support, compliance and audit, asset management, etc.

The latest development comes on the back of Freshworks posting a consolidated net loss of $23.3 Mn in the first quarter ended March 31, 2024, registering a 45.3% d...