Kedaara, a leading private equity firm, announced that it intends to bring together GAVS Technologies Limited (“GAVS”) and Great Software Laboratory Private Limited (“GS Lab”) to create a leading Digital Product Engineering and AI-led Digital Transformation platform with focus on Healthcare, Communications, Networking, BFS and Fintech. The combined entity will have close to 4,000 technical employees with operations in the US, UK, Middle East, and India, and delivery labs out of Pune, Chennai, Bangalore, Hyderabad, and Baroda in India. Kedaara had acquired majority stakes in GS Lab and GAVS over the past three months.
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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. 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. Both companies have grown at a stellar rate of 20%+ over the last five years (10x+ in the previous 10 years).
Sunish Sharma, Co-CEO & Managing Partner of Kedaara, and Parin Mehta, Managing Director 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.”
Kedaara will further help accelerate the growth for the combined platform through:
- Leveraging their global relationships, as well those of Clayton, Dubilier & Rice (“CD&R”), a global private equity firm and JV partner of Kedaara
- Continuing to foster innovation and competency development in leading-edge technologies like AI, Cloud, Analytics to meet the digital needs of customers
- Making investments for enhancing the global client reach out program and focus on client centricity through the combined entity