Denave, a global technology-powered sales enablement services organization, has announced that Updater Services Pvt. Ltd (UDS), a Chennai-based integrated facilities management and business services firm has acquired a controlling interest in the firm.
According to a statement, “The investment will accelerate Denave’s long-term strategic plan and strengthen sales enablement capabilities for clients, spread across the globe. For UDS, this acquisition adds another service line to their business services portfolio, further integrating their competencies and expanding their geographic presence in key markets while enabling cross selling opportunities across the group.”
Speaking about this deal, Snehashish Bhattacharjee, Co-Founder and Global CEO, Denave said, “UDS investment in Denave is a testament to the technology-driven sales enablement company we have built with our enterprising team, service portfolio, client relationships, and ability to generate consistent growth. This also reflects our future growth and ability to deliver results. We are excited to welcome UDS on board as their experience in scaling companies will be invaluable in our next phase of growth.”
Raghunandana Tangirala, Founder, CEO, and Managing Director of Updater Services, said, “Denave is a growth-oriented organization, with a wide range of tech-driven sales enablement service capabilities, driving exceptional results for its clients across APAC and Europe. We are thrilled to partner with a dynamic player in this continuum. UDS believes in driving growth through strategic partnership and in Denave, we have found a team that will help us capture the large sales enablement services industry potential.”
PricewaterhouseCoopers (PwC) acted as the financial advisor and Legal Orbit was the legal advisory firm for the transaction.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.