Strategic addition marks continued commitment to growth and geographic expansion
MUMBAI, India, READING, England, BRIDGEWATER, N.J. and DALLAS, Jan. 5, 2017 /CNW/ -- Digility Inc., the wholly owned subsidiary of Mastek UK, announced today the acquisition of US-based leading digital commerce solution provider, TAISTech. The TAISTech Executive Leadership Team, led by Kapil Malik and Aman Bedi, will continue to run operations as a wholly owned subsidiary of Digility Inc.
Founded in 2000, TAISTech is a digital commerce services leader that provides strategic consulting, large-scale commerce implementations and support for the Oracle Commerce and Oracle Commerce Cloud applications. In addition, TAISTech also provides omnichannel strategy, creative design, mobile app development, ongoing maintenance and training. TAISTech, with revenues close to $30M, has posted steady growth of ~ 15 % CAGR over the past four years in the US market and has been exploring aggressive expansion plans into LATAM and Europe.
This acquisition will create a platform for Mastek's accelerated growth in the US market and will augment Mastek's 2020 vision to be a global leader in digital transformation services. Mastek's North America Head and Digility President, Madhu Kumar, says of the acquisition, "We see this acquisition as an opportunity to extend our Digital Commerce capability footprint and further differentiate our service offerings, providing the much needed scale to compete and win large-scale transformation programs from our existing clients as well as new markets." He also added that, "The innovation tools, skill excellence and passion shown by the TAISTech team, and the vision of their CTO, Aman Bedi, weighed heavily in our decision to pursue the acquisition. As a member of the Mastek family, every TAISTech employee will have career enhancement opportunities across multiple industry domains and geographies. Their addition will strengthen our group's overall architecture and technology quotient."
Kapil Malik, TAISTech Founder and CEO said, "The acquisition allows us to leverage Mastek's global footprint and accelerate our expansion plans in markets such as the UK, Europe and Asia. As always, we're committed to maintaining our strong customer relationships. Given that we now have a larger portfolio of service offerings, we are positioned to provide more innovative solutions around our core focus of Digital Commerce, thereby increasing the share of business with our esteemed customers. Joining Digility Inc. and being part of the Mastek Group of companies is the right way to foster growth at TAIS."
TAISTech brings experience with some of the most powerful brands in the retail and manufacturing industries, including Fortune 500 customers. The company delivers a personalized customer buying experience across web, mobile, social media and brick and mortar stores. With the acquisition in place, TAISTech will also grow its service portfolio by leveraging Mastek's strength in Data Warehousing, Business Intelligence and Analytics, Enterprise Testing and Agile Process Consultancy Services.
Mastek Group CEO, John Owen, says, "The acquisition is in line with the corporate transformation strategy already in progress at Mastek. Mastek and TAISTech employees, customers and shareholders will benefit from the expanded service portfolio of our combined entity and I am confident all our stakeholders will appreciate the strategic value and opportunities this transaction creates."
Post the demerger of Majesco, Mastek has been allocating capital to expand its reach in geographies, markets and capabilities. In 2015, Mastek acquired the UK-based leader in Agile Digital Transformation, IndigoBlue and created a fully owned subsidiary, Digility Inc to re-enter the US market.
About Mastek and Digility
For over three decades, Mastek has specialized in building, maintaining and managing custom digital solutions for clients in the Government, Healthcare, Retail and Financial Service industries. With four dedicated Centers of Excellence and over 1,300 employees, the company has a well-established global delivery model equipped with proven proprietary tools and methodologies. With expertise in Agile Application Development, Testing, Business Intelligence and Analytics, Mobility and Legacy Modernization, the company has a 91% customer advocacy rating. Mastek's US division and wholly owned subsidiary, Digility Inc., was featured as one of the 'Top 20 Most Promising Financial Technology Service Providers in 2016' by CIOReview. To learn more, visit www.digility.com.
Founded in 2000, TAISTech is a global digital services firm focused on implementing and maintaining the Oracle Commerce and Oracle Commerce Cloud applications, as well as integrating them with the full suite of Oracle Customer Experience Products. The full suite includes Oracle Marketing Cloud, Oracle Service Cloud, Oracle Social Cloud and Oracle Sales Cloud, as was well as Oracle CPQ. Other services include omnichannel strategy, creative design, mobile app development, ongoing maintenance and support, and training. With over 300 highly experienced professionals, TAISTech provides a flexible delivery model that includes onshore, offshore or a hybrid model to accommodate client business and financial requirements. TAISTech is headquartered in Dallas, Texas. To learn more, visit http://www.taistech.com.
SOURCE Digility Inc.
For further information: Ashley Peterson, Head - Marketing, Digility Inc, Ashley.Peterson@Digility.com; Diwakar Pingale, Managing Director, Christensen Investor Relations, dpingle@ChristensenIR.com; Mike Graziano, Vice President - Sales & Client Service, TAISTech, email@example.com, http://www.digility.com