Southfield digital engineering services firm Technosoft Corp., which does business as Apexon, has agreed to merge with Infostretch Corp., a similar enterprise in Santa Clara, Calif.
The combination is expected to create a premier digital engineering services company and provide leadership in the financial services, health care, and life sciences sectors.
Infostretch is part of the Goldman Sachs Asset Management Private Equity business and of Everstone Group. Closing is subject to certain conditions, including regulatory approvals.
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, artificial intelligence, and machine learning. The company will have more than 8,000 employees around the globe.
After closing, the combined company will be led by Executive Chair Sumithra Gomatam and CEO Sriniketh Chakravarthi. The two bring more than 50 years of experience in the digital IT services industry with former leadership positions in world-class organizations such as Cognizant and Tech Mahindra.
The two co-founders of Infostretch — CEO Rutesh Shah and COO Manish Mathuria — will join the Technosoft Corp. Board of Directors as vice chairmen. Radhakrishnan Gurusamy, founder and current chairman of Apexon, also will 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,” says Shah. “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.”
Radhakrishnan says, “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. 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.”
