SOUTHFIELD–Technosoft Corp., which does business as Apexon, and Infostretch Corp., 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 user interface, user experience, and digital commerce; Digital Engineering, including cloud, product, platform, quality engineering, and automation; and Data, covering data engineering, analytics, artificial intelligence, and 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 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, and cloud transformation are complementary to Infostretch’s strengths in application development, cloud engineering and data services,” Chakravarthi said. “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.”
More at www.apexon.com and www.infostretch.com.