Chennai, Jan 19 (PTI) Consulting, technology and managed transformational services provider Prodapt on Wednesday said it has acquired Synophic Worldwide, providing network transformational and managed services to digital service providers for an ‘undisclosed sum”.

The acquisition made by Prodapt was its third this financial year. Prodapt earlier announced the acquisitions of Innovative Logic and SLR Dynamics, a company statement said here.

The acquisition of Synophic Worldwide further expands Prodapt’s presence in the United States, Latin American regions and provides entry into APAC countries — Japan, Philippines and Australia.

“Prodapt said it had announced plans to invest USD 45 million in deepening its capabilities in network virtualisation and cloudification segment and the Synophic acquisition is part of this investment strategy”, the statement said.

“Additional investments have been planned in areas around network cloud, autonomous networks and NetSecOps” the statement said.

Commenting on the acquisition, Prodapt Chairman and CEO, Vedant Jhaver said, “I am delighted to welcome Kondal Rao and the Synophic Worldwide team to the Prodapt family. Synophic’s wide range of capabilities in network solutions, cloud, IoT, mobility data centres and security augments our portfolio of network transformational services”.

Synophic Worldwide CEO Kondal Rao said joining forces with Prodapt would help expand managed services and network transformation portfolio. “This (acquisition by Prodapt) will also open a plethora of growth potential for the employees of Synophic. I am pleased to be part of the Prodapt team and excited about the multi-fold scale with which we can operate and leverage Prodapt’s transformational expertise in delivering solutions to our customers”, he said.

Avendus Capital was the exclusive financial advisor to Prodapt on this transaction while BDA Partners acted as the exclusive financial advisor to Synophic Worldwide, the statement added. PTI VIJ HDA HDA

To stay updated with the Latest Stock Market news, download our app here!

For editorial purposes, contact news@tradebrains.in

Disclaimer: The Stocks mentioned on this website or any segment are not recommendations. Tradebrains.in advises users to check with certified experts before taking any investment decisions.