Indian private equity firm Kedaara is merging GAVS Technologies Limited (GAVS), which it acquired in 2021 and Great Software Laboratory Private Limited (GS Lab) to create a leading Digital Product Engineering and AI-led Digital Transformation platform.
The said platform will focus on Healthcare, Communications, Networking, BFS and Fintech. The combined entity will have close to 4,000 technical employees operating in the US, UK, Middle East, and India.
In India, it will have delivery labs out of Pune, Chennai, Bangalore, Hyderabad, and Baroda. Kedaara had acquired majority stakes in GS Lab and GAVS over the past three months.
GAVS is an AI-led digital transformation company that focuses on differentiated managed services, analytics, and product engineering in Healthcare, BFS, Retail and other verticals.
Meanwhile, GS Lab provides high-end digital product engineering services and acts as the innovation engine for ISVs, digital-native startups, and enterprises globally, enabling them to develop and manage new digital products.
Sunish Sharma, Co-CEO and Managing Partner of Kedaara, said, “Digital transformation and product engineering are key investment themes for us, and we are very excited to play this theme through our partnership with GAVS and GS Lab.”
“The combination of GAVS and GS Lab will have digital engineering and AI-led digital transformation capabilities across a broad array of new-age technologies and will allow them to tap into rapidly growing demand for adoption of digital technology across various sectors globally,” added Sunish Sharma.
Kedaara will help accelerate the growth of the combined platform
Kedaara is an operationally oriented private equity firm pursuing control and minority investment opportunities in India. It currently manages over $ 3.6 billion through investments in several market-leading businesses across various sectors, including consumer, financial services, healthcare, technology, business services, and industrials.
The combined entity will have access to decades of rich experience from Pramod Bhasin, Operating Partner at Kedaara, and Keith Pitts, Operating Advisor at CD and R and ex-Vice Chairman, Tenet Health, who will be on the board of the combined entity.
Pramod Bhasin said, “Digital is becoming the core differentiator for businesses across the board globally by enabling them to become more agile. Both GAVS and GS Lab have complementary and unique expertise in this area, with a deep understanding of their respective industries, which we plan to offer to our customers and accelerate the timelines for them to achieve their digital transformation goals.”
The integration process is expected to be completed over the next few months and will be subject to the applicable regulatory and other approvals. However, the financial details of the transactions were not disclosed.
Keith Pitts said, “Abundance of untapped data is likely to drive IT adoption, especially in the space of cloud migration, data analytics, and security services. With a strong DNA of innovation-led culture and customer-centricity, the combined entity is well-positioned to be one of the premier digital-transformation focused service providers globally.”