Relevance Lab, a leading provider of digital transformation services, today announced that it has secured the backing of US$700 Million CSP Fund II, a technology-focused private equity fund. With this investment, Rajeev Srivastava & Sanjay Chakrabarty from CSP Fund II will join the Board of Relevance Lab. This comes on the back of the recently announced merger of CIGNEX and Excellerent with Relevance Lab. The merged entity now has a significant presence across North America, India, and Ethiopia with a headcount of 1,500+ employees. The merger provides the platform with an integrated approach to address all the dimensions of digital transformation from its global development centers.
Announcing the same, Vasu Sarangapani, recently appointed President & CEO, of Relevance Lab, said, “I believe that with the backing of CSP Fund II, we will have the ability to accelerate business growth in our focus markets and execute on identified opportunities for M&As. This will also give us the opportunity to cross-sell and upsell within their larger portfolio”.
Speaking on behalf of CSP Fund II, Rajeev Srivastava said, “Our core competency is in bringing small to mid-sized companies together under a unified platform and accelerating growth. We believe that this strategic merger, along with Vasu as President & CEO, provides the necessary impetus to scale Relevance Lab.”Source: Yahoo Finance