Combination creates digital engineering services powerhouse and scales capabilities in financial services, healthcare and technology sectors
Technosoft Corporation, doing business as Apexon, and Infostretch Corporation announced that they have completed their merger. The combined entity will operate under the Apexon brand and continue to operate under the ownership of funds managed by each of Goldman Sachs Asset Management and Everstone Group.
“Very few service providers have the digital expertise and experience of these two firms, especially in the healthcare arena, where we play. There is a lot of complementary capabilities there, and we have a lot to gain from the combination.”
The merger brings together industry-leading digital expertise in three core areas: Experience, encompassing UI/UX and digital commerce; Digital Engineering, including cloud, product, platform, quality engineering and automation; and Data, covering data engineering, analytics, and AI/machine learning.
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The combined company, with revenue approaching half a billion dollars, will be led by Executive Chair Sumithra Gomatam and Chief Executive Officer Sriniketh Chakravarthi. The two bring extensive experience in the digital IT services with leadership positions in world-class organizations such as Cognizant and Tech Mahindra. The founders of Infostretch – Rutesh Shah and Manish Mathuria – will continue on the Board of Directors as Vice Chairmen. Meanwhile, the founder of Apexon – Radhakrishnan Gurusamy – will join the Board of Directors.
“Apexon’s expertise in data analytics, digital customer experience (CX), and cloud transformation are complementary to Infostretch’s strengths in application development, cloud engineering and data services,” said new CEO Sriniketh Chakravarthi. “The combination provides considerable depth across the full spectrum of digital capabilities. It enables us to become better partners with our existing enterprise clients to deliver digital outcomes while also positioning us to further scale our domain expertise in key verticals such as financial services, healthcare, and technology.”
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“As a long-time customer of Infostretch, we think the merger makes great sense,” said Dr. Max Wang, Chief Technology Officer at International SOS Assistance. “Very few service providers have the digital expertise and experience of these two firms, especially in the healthcare arena, where we play. There is a lot of complementary capabilities there, and we have a lot to gain from the combination.”
“There is significant market demand for the deep digital capabilities that Apexon and Infostretch have developed,” said Harsh Nanda, a Managing Director and Head of Technology Private Equity with Goldman Sachs Asset Management. “This merger enhances the depth and scale of offerings to help enterprise clients design, automate, and accelerate their digital journey and deliver business outcomes. We are incredibly excited to work with the combined Apexon team to drive innovation and transformation in the market.”
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