Combination will create a premier digital engineering services company and extend leadership in financial services, healthcare and life sciences
Technosoft Corporation, doing business as Apexon (“Apexon”), and Infostretch Corporation (“Infostretch”) announced that they have signed a definitive agreement to merge the two companies. As part of the combined organization, Apexon will join a family of portfolio companies of the Goldman Sachs Asset Management Private Equity business and of Everstone Group. Closing is subject to certain conditions, including regulatory approvals.
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“We are excited to be part of the Goldman Sachs Private Equity and Everstone Group portfolios. Together we can help our customers fully leverage digital capabilities to reinvent the way they engage with their customers and enable real competitive differentiation.”
The combined organization will have the expertise and resources to serve its enterprise clients across digital product and platform engineering, data engineering and analytics, native cloud engineering, customer experience design, and artificial intelligence and machine learning. With 8,000+ employees around the globe, the company is well-positioned to help its clients formulate and execute on their digital journey efforts.
After closing, the combined company will be led by Executive Chair Sumithra Gomatam and Chief Executive Officer Sriniketh Chakravarthi. The two bring over 50 years of experience in the digital IT services industry with former leadership positions in world-class organizations such as Cognizant and Tech Mahindra.
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The two co-founders of Infostretch – Chief Executive Officer Rutesh Shah and Chief Operating Officer Manish Mathuria – will join the Board of Directors as Vice Chairmen. Radhakrishnan Gurusamy, founder and current Chairman of Apexon, will also join the Board of Directors.
“The need for digital expertise continues to grow as organizations look for new ways to apply the latest technologies to drive their businesses forward,” said Rutesh Shah, co-founder of Infostretch. “Through the merger with Apexon, we can offer new solutions and enhance the impact of our clients’ strategic digital initiatives in order to deliver on their critical business objectives. The Apexon team brings both scale and maturity and positions the company for long-term partnerships with our clients.”
“Combining Apexon’s ability to incorporate the human element into the digital experience with Infostretch’s digital engineering depth creates a truly unique value for our client base,” said Radhakrishnan, founder of Apexon. “We are excited to be part of the Goldman Sachs Private Equity and Everstone Group portfolios. Together we can help our customers fully leverage digital capabilities to reinvent the way they engage with their customers and enable real competitive differentiation.”
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