Khetal Advisors Facilitates Acquisition Of Versant Technologies By Aspire Systems
The acquisition opens a $6 Billion Retail IT Market for Aspire.
- (1888PressRelease) December 24, 2013 - Bangalore - Khetal Advisors, India's leading boutique investment banking firm, recently facilitated the 100% acquisition of Hyderabad-based IT firm, Versant Technologies Pvt. Ltd. by Aspire Systems.
This is the 3rd transaction which Khetal Advisors have participated in FY2013 providing complete transactional support, including preparation and marketing of the collaterals and structuring of the final transaction documentation.
With this acquisition, Aspire Systems will have complete access to Versant Technologies' service portfolio of Oracle retail practice and EDI practice and client base across its offices in US and Middle East. Aspire Systems will be leveraging Versant Technologies' leadership position in Retail Oracle Implementation and Services in the Middle East and expand its capacities across the globe.
Speaking on the occasion, Shashwat Kumar, Partner, Khetal Advisors said, "Versant is a market leader in Oracle Implementation & Services in the Retail space; it boasts of several marquee clients in the Middle East region having executed complex multi-store rollouts of the Oracle Suite of Products for Retail Businesses. Aspire would be able to leverage this unique expertise and broaden their service offerings. Aspire would also, be adding several marquee customers in the Middle East region and be able to expand their traditional Outsource Product Development Services to a new range of customers"
The process of acquisition had started in June of 2013 and by end of FY 2013 Aspire Systems will have complete ownership of all assets and infrastructure of Versant Technologies across all its offices. Aspire will be retaining all the personnel of Versant and would be expanding the workforce as it integrates the newly acquired business.
"Khetal Advisors is a market leader for facilitating acquisitions in the IT space in India. It was a natural choice that we consulted with them for this transaction. They were able to highlight our unique capabilities and leverage what we believe to be our core strengths to find a suitable partner in the form of Aspire. They have guided us with their proficiency across the transaction in several key areas and helped us navigate complex legal, HR and taxation issues.", said Naidu Darapaneni, founder, Versant Technologies.
About Versant Technologies:
Versant Technologies is a global software technology company with in-depth experience and specialization in Oracle Retail Implementation, Enterprise Application Integration (EAI), Electronic Data Interchange (EDI) and Software Development. Versant is based in Hyderabad with additional offices in Middle East and US.
About Aspire Systems:
Aspire Systems is a global technology services firm headquartered in Chennai and has offices across US, UK, Germany and UAE. Their service portfolio product encompasses engineering, enterprise transformation, independent testing services and IT infrastructure support services. Aspire Systems has over 60 clients and helps them leverage technology and outsourcing in their specific areas of expertise.
About Khetal Advisors:
Khetal Advisors is a boutique investment banking firm which provides financial advisory for M&A and VC/PE transactions with specific focus on IT and IT enabled businesses. An entrepreneur focused approach, strong market network and in-depth knowledge of the technology industry has helped Khetal & Agrawal Advisors to establish itself as a go-to-banker firm for mid size Technology firms.
For more information, please visit: http://www.khetal.com/.
For media queries, please contact:
Jesus Milton- 9945191257/ milton ( @ ) prhub dot com
Dhanya Nambiar- 9743770732/ dhanya ( @ ) prhub dot com
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