London, United Kingdom – Technology Holdings, a global investment banking firm with offices in the Americas, Europe and the Asia-Pacific, is pleased to announce that it has acted as the exclusive financial advisor to Velotio Technologies, a leading product engineering and digital solutions company headquartered in India, on its strategic sale to R Systems, a portfolio company of Blackstone.
Blackstone is the largest private equity fund globally, managing $991 billion of capital. Founded in 2006, and with a team of over 300 engineers, Pune-based Velotio Technologies combines complex engineering, data expertise, cloud-native, and design capabilities to build innovative products for global customers, including NASDAQ-listed enterprises, and high-growth companies across Technology, Media, Healthcare, and Enterprise SaaS. Velotio is recognized as a ‘Top Software Development Company’ by Clutch and GoodFirms and has been certified as a Great Place to Work® for two consecutive years and named one of India’s Best Workplaces for Women.
Kalpak Shah (CEO and co-founder) and Chirag Jog (CTO and co-founder) echoed: “We are excited to join the R Systems family in this next phase of growth for Velotio, our employees, and our customers. R Systems is an established player in the industry with a strong management team, marquee customers, and a global presence, which will provide a platform for us to create value at a larger scale. With our culture of attracting and nurturing top talent in the latest technologies and R Systems’ extensive industry expertise and global presence, we are excellently positioned to help enable our customers on a strong growth trajectory. We also look forward to collaborating closely with Blackstone, one of the world’s leading investors, as we look to build a scaled and fast-growing digital product engineering company.”
Vivek Subramanyam, Founder and CEO of Technology Holdings said, “We are delighted to have advised Velotio on this transformational Digital Product Engineering transaction – our 31st Digital Transformation deal, reflecting our deep expertise in the space. Kalpak Shah and Chirag Jog have built an outstanding business focused on outsourced product development and digital engineering. Velotio’s capabilities and team are exceptional, and we wish them every success in this strategic partnership with R Systems.”
Find out more about this transaction here.