– Combined entity aims to have a stronger capability portfolio & expanded geographic footprint to create value for shareholders
AHMEDABAD, India, Dec. 20, 2019 /PRNewswire/ — CIGNEX Datamatics, a leading provider of Open Source, Cloud and Automation technology solutions and services, today announced that its’ shareholders have strategically divested their stakes in CIGNEX Datamatics Inc. The stakes have been acquired by Relevance Lab, a Singapore-headquartered IT Services Company, through a share-swap arrangement.
Datamatics Global Services Ltd. (DGSL), a global IT & BPM company, being the majority stake holder had 62.51% stake in CIGNEX Datamatics through its step-down subsidiary and it contributed to 17.27% of the total turnover of DGSL. As a result of this deal, the step-down subsidiary will hold 21% of the total stake in the combined entity.
Relevance Lab is a specialist IT services company with re-usable technology assets in the area of DevOps, Cloud, Automation, Digital, Service Delivery and Supply Chain Analytics that helps global organizations achieve frictionless business. CIGNEX Datamatics whereas has been enabling organizations achieve Digital Transformation with solutions and services based on Open Source, Cloud and Automation tools and technologies.
Through this transaction, the combined company shall have an integrated offering approach with robust solutions & services for their customers. Moreover, the synergy between the two companies in terms of services, products, processes and resources shall be put to the best advantage of all stakeholders.
“Along with the similar service offerings, both the companies share the same vision of delivering superior experience & operational efficiency to the customers. The combined entity will be able to accelerate this shared vision by ensuring that the right capabilities are in place to meet existing, as well as emerging, customer needs with speed and scale,” said Vidur Bhogilal, Chairman, CIGNEX Datamatics.
“The addition of CIGNEX Datamatics’ expertise bolsters our capabilities in the current areas of operations and will enable us to offer more comprehensive digital transformation solutions to enterprises across the globe,” said Raja Nagarajan, CEO, Relevance Lab. “We are excited with CIGNEX Datamatics’ inclusion into Relevance Lab family, and look forward to solving the complexities of digital enterprises by leveraging our combined capabilities,” he added.
About CIGNEX Datamatics (www.cignex.com)
CIGNEX Datamatics, a subsidiary of Datamatics Global Services Ltd., is a Michigan-based global consulting company offering solutions & services on Open Source, Cloud and Automation. Since 2000, CIGNEX Datamatics has been delivering enterprise class solutions built using leading platforms & tools and integrated with existing systems to achieve unparalleled results.
About Relevance Lab (www.relevancelab.com)
Relevance Lab is a specialized IT services company with re-usable technology assets in the DevOps, Cloud, Automation, Digital, Service Delivery and Agile Analytics domains. It helps global organizations achieve frictionless business by transforming their Infrastructure, Applications and Data to provide business scale, operational efficiency and deliver superior customer experience.