Tech firm takeover paves way for expansion plans
A Sunderland-based global technology consultancy has been taken over.
Saggezza – which is based at Sunderland Software Centre – is to become a wholly owned subsidiary of leading digital engineering company Infostretch.
The deal marks Infostretch’s first acquisition since the firm’s private equity investment from Goldman Sachs Merchant Banking and Everstone Group in August and will play a key role in the USAbased company’s expansion plans in the UK and India.
Saggezza, which was last year named among as one of the fastest-growing companies in the US, has grown rapidly since its formation in 2005 – employing over 500 staff in six offices in the UK, US and India.
Recently, the company launched its Salesforce consulting and implementation practice to help clients maximise the return on investment – which was underpinned by the team at its UK centre of excellence in Sunderland.
That saw 40 jobs created and the firm aims to expand its headcount over the next 12 months by a further 40.
Rutesh Shah, Infostretch CEO, said: “Saggezza’s deep expertise in software design and implementation is a perfect complement to our digital engineering and data analytics capabilities.
“We see an opportunity here to quickly grow our footprint in our existing client base and to win new business.
"This combination is a positive development for the clients of both companies.”
He believes such partnerships will be crucial to driving the industry forward in the future.
He added: “Competing and winning in the future will depend increasingly on an organisation’s ability to seamlessly blend human and digital assets into their customer engagement and business operations.
“By joining forces with, we can expand upon our suite of transformative, advisory and execution services to keep our current and prospective clients at the forefront of the digital frontier.”
The transaction is expected to be completed within the second quarter this year.