Announced Date: August 2020
Everstone Group and Goldman Sachs Merchant Banking Division acquire significant stake in Infostretch
We are pleased to announce that our client,the Everstone Group, along with the Goldman Sachs Merchant Banking Division, has successfully acquired a significant stake in Infostretch, a leading Digital Engineering services provider.
Founded in 2004, US based Infostretch is a pure-play digital engineering services firm focused on helping companies accelerate their digital initiatives from strategy and planning through execution. Its team of 1,200+ global engineers offers core capabilities in Cloud, Data, IoT, Mobile and UI/UX, leveraging Data and Analytics.
The Company will look to accelerate its growth and expand its service offerings through a combination of organic and inorganic opportunities, using the funds invested.
On the investment, Avnish Mehra, Senior MD, Everstone Group said, “Digital will be the core differentiator for businesses of all sizes in almost every segment over the next five to ten years. With its expertise in emerging technologies and the ability to incorporate intelligent automation across the development lifecycle, we think Infostretch is well positioned to be one of the premier digital engineering service providers in the market.”
Harsh Nanda, MD, Goldman Sachs Merchant Banking Division said, “Infostretch has built an impressive brand and list of loyal clients in healthcare, financial services and high tech. Their global presence and ability to apply the latest capabilities in areas like AI and analytics with best practices in Agile and DevOps set them apart in the digital engineering space.”
Rutesh Shah, CEO and co-founder of Infostretch said, “We’re very pleased to partner with Goldman Sachs and Everstone Group to continue our aggressive growth and expansion. The expertise and reputation we have built over the last fifteen years has put us in the position to advance the digital initiatives of some of the world’s leading companies and brands. This investment will enable us to build on those strengths and take advantage of the growing need for more innovative digital solutions in verticals like healthcare, financial services and technology.”