Combination creates digital engineering services powerhouse and scales capabilities in financial services, healthcare and technology sectors
SANTA CLARA, CA and SOUTHFIELD, MI – April 13, 2022 – Technosoft Corporation, doing business as Apexon, (“Apexon”) and Infostretch Corporation (“Infostretch”) today 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.
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.
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.”
“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.”
Apexon is a digital technology services and platform solutions company that partners with clients to improve their digital experience and insight. With more than 25 years of experience, Apexon is helping companies enhance their digital experience with their customers. Apexon works in the areas of digital experience, analytics, artificial intelligence, and cloud development to unlock the power of technology for its clients to empower humans with intelligent and experiential solutions. https://www.apexon.com/
With over 18 years of experience, Infostretch is a pure-play digital engineering services firm focused on helping companies accelerate their digital initiatives from strategy and planning through execution. Infostretch leverages deep technical expertise, Agile methodologies, and data-driven intelligence to modernize systems of engagement and simplify human-tech interaction. Infostretch delivers custom solutions that meet customers’ technology needs wherever they are in their digital lifecycle. Backed by the Private Equity business within Goldman Sachs Asset Management and Everstone Group, Infostretch works with both large enterprises and emerging innovators — putting digital to work to enable new products and business models, engage with customers in new ways, and create sustainable competitive differentiation. https://www.infostretch.com/