Chennai 30th June 2020: Aspire Systems, a global information technology services company, today announced that it has acquired a majority stake in RapidValue Solutions, a digital product engineering services, and solutions. This acquisition will enable Aspire to strengthen its capabilities in Digital Engineering, which is a key area of focus for Enterprises and ISVs as they try to accelerate their digital transformation initiatives in these uncertain times.
Speaking on the occasion, Rajesh Padinjaremadam, CEO, RapidValue Solutions, said, “This is a significant milestone in our growth. This transaction with Aspire will help us in scaling our services to a global footprint and offering transformative digital engineering solutions in the marketplace. Both Aspire Systems and RapidValue have been certified as a Great Place to Work®, and this reiterates our shared philosophy of providing a growth-conducive workplace for our employees with an unwavering focus on customer success. We strongly believe that this partnership will help us grow faster while leveraging Aspire’s capabilities and cross-selling their services to our customers.”
As part of this agreement, Aspire Systems is buying out the entire stake of Helion Ventures to become the majority shareholder. “As a fast-growing player in the Digital space, we feel Aspire Systems is the right strategic partner to take RapidValue Solutions to the next level of growth.” said Dr. Ashish Gupta, Senior Managing Director, Helion Venture Partners.
Commenting on the acquisition, Mr. Gowri Shankar Subramanian, Chairman and CEO, Aspire Systems said, “The founders of RapidValue have built a fundamentally strong and differentiated organization, and we are coming in at the right time as the company switches gears for the next phase of growth. With this acquisition, we will be able to take further steps towards our growth objective of doubling revenues in 3 years by gaining additional engineering strength, sales, and leadership capabilities. The most interesting aspect for us is the fact that both companies have a high-degree of focus on people and are operating at the leading edge of technology. This combination will help us stay ahead and enable us to continue providing a compelling value proposition to our current and future customers.”
Aspire and RapidValue plan to continue operating as independent entities, but with deep collaboration between the organizations and expect the opportunity to integrate operations fully after a few years. The transaction is expected to provide a significant impetus to Aspire’s growth journey towards its goal of $200 million in revenues in 3 years.