Saksoft Expands Its Digital Reach: A Closer Look at the Solveda Acquisition

August 26, 2023
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Key Takeaways:

  1. Saksoft has completed the acquisition of Solveda Group, a move that solidifies its positioning in the digital transformation space.
  2. Aditya Krishna, Chairman & Managing Director of Saksoft, highlights that this acquisition is part of their “Inch-wide Mile-Deep” strategy focusing on niche markets.
  3. Solveda’s leadership views the acquisition as a synergistic move that will accelerate their global expansion in the e-commerce solutions market.
  4. Both companies expect to benefit from the other’s expertise and market positioning.

About Saksoft

Saksoft specializes in a range of digital technologies, including Enterprise Applications, Augmented Analytics, Intelligent Automation, and Enterprise Cloud solutions. Headquartered in Chennai, India, the company operates 16 offices worldwide and employs over 2,000 people.

About Solveda

Solveda is a New York-based software design and development firm specializing in cutting-edge e-commerce applications for both B2B and B2C clients. With a global workforce of 200 people, Solveda has significant enterprise customers across the US, APAC, and EMEA regions. Their unique approach involves the use of pre-built artefacts and accelerators to reduce time-to-market and customer costs.

Leaders Speak: What the Acquisition Means

A Strategic Move for Saksoft

Aditya Krishna, the Chairman & Managing Director of Saksoft, expressed his outlook on the acquisition: “We are pleased to welcome Solveda’s leadership, employees and clients to Saksoft. This acquisition reinforces our continued focus on our Inch-wide Mile-Deep strategy of competing in market niches where we have competitive advantage. Solveda’s deep expertise in E-commerce applications will help us open and leverage another market niche which is attracting significant technology spend across the globe.”

Solveda’s Optimism: A New Chapter

Nick Rosser, CEO of Solveda LLC, views this acquisition as a transformative moment: “With increased client exposure and access to new geographies, our partnership with Saksoft will help fuel the next stage of our evolution into a global full-service eCommerce solution provider. We are delighted to be able to do this whilst preserving Solveda’s independent culture and our shared commitment to excellence will drive even more meaningful results for our clients.”

Deepak Agarwal, CEO of Solveda India, also added: “We are excited to join forces with the Saksoft Group as we see synergy in our experience and expertise. Our strong business relationship, project execution experience in the global eCommerce market combined with Saksoft’s larger portfolio of solutions can provide scale for our business growth.”

Why This Acquisition is a Big Deal

Accelerating Global Expansion

One of the compelling aspects of this acquisition is its impact on global reach. Solveda already has centers in London, Gurgaon, and Noida. This amalgamation with Saksoft provides an opportunity for both companies to explore new markets, enhancing their global footprints.

Unveiling a New Niche: E-commerce Solutions

E-commerce is a booming industry, and Solveda’s expertise adds a feather to Saksoft’s cap. This acquisition promises to strengthen Saksoft’s position as a leading provider of comprehensive e-commerce solutions, tapping into a market that is currently seeing huge global technology spends.

What the Future Holds

A Greater Portfolio of Solutions

The complementary nature of Saksoft and Solveda’s services means that current and future clients can expect a broader portfolio of solutions. From enterprise applications to the nuances of e-commerce, the combined company is well-positioned to offer end-to-end solutions.

Enabling Business Growth Through Synergy

The sentiments expressed by both parties highlight a strong sense of synergy, especially in leveraging each other’s strengths. Deepak Agarwal, CEO of Solveda India, believes that their combined forces can “provide scale for our business growth.”

Conclusion: A Merger of Visions and Expertise

The acquisition of Solveda by Saksoft is not merely a business transaction; it represents a merger of expertise, vision, and commitment to excellence. This deal enhances Saksoft’s capabilities while providing Solveda with the resources to fast-track their global ambitions.

As we observe these two tech giants coming together, it is evident that this acquisition is not just about growth, but also about creating significant value for their clients, stakeholders, and the digital transformation industry at large.

Given the early promise shown by this strategic move and the optimistic outlook shared by the leaders of both organizations, the tech world should definitely keep an eye on what’s coming next from this combined entity.

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