Chennai-based integrated facilities management and business services company Updater Services (UDS) has acquired a controlling stake in Denave, a global technology-based sales support services organization.
Raghunandana Tangirala, Founder and CEO of Update Services, said, “Denave is a growth-driven organization, with a wide range of technology-driven sales support services capabilities, delivering exceptional results for its clients. across APAC and Europe. We are delighted to be associated with a dynamic player in this continuum.
PricewaterhouseCoopers (PwC) was the financial advisor and Legal Orbit was the legal advisor for the transaction.
The investment will accelerate Denave’s long-term strategic plan and strengthen sales activation capabilities for customers around the world. For UDS, this acquisition adds another line of services to their business services portfolio, further integrating their skills and expanding their geographic presence in key markets while enabling cross-selling opportunities across the group, the statement added.
Founded in 1999, Denave has leveraged systematic, planned and technology-driven sales solutions for its customers. Speaking about the deal, Snehashish Bhattacharjee, Co-Founder of Denave, said, “UDS’s investment in Denave is a testament to the technology-driven sales support company we have created with our enterprising team, our portfolio of services, our relationships with clients and our ability to generate constant growth. It also reflects our future growth and our ability to deliver results.
Dear reader,
Business Standard has always strived to provide up-to-date information and commentary on developments that matter to you and have broader political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these difficult times resulting from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative views and cutting-edge commentary on relevant current issues.
However, we have a demand.
As we fight the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of providing you with even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital editor
