Chennai-based integrated facilities management and business services firm Updater Services (UDS) has acquired a controlling stake in Denave, a global technology-powered sales enablement services organisation.
Raghunandana Tangirala, founder and chief executive officer of Updater Services, said, “Denave is a growth-oriented organisation, 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.”
PricewaterhouseCoopers (PwC) was the financial advisor and Legal Orbit was the legal advisory firm for the transaction.
The investment will accelerate Denave’s long-term strategic plan and strengthen sales enablement capabilities for clients 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, the statement added.
Established in 1999, Denave has leveraged systematic, planned, and tech-driven sales solutions to clients. Speaking about this deal, Snehashish Bhattacharjee, Co-Founder, Denave said, “The 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.”
Source: Business-Standard