PE Fund Investments
Kedaara buys majority stake in IT Services firm GAVS Tech
Private equity firm Kedaara has acquired a majority stake in Chennai-based GAVS Technologies Ltd, an AI-led digital transformation company that focuses on differentiated managed services and product engineering in healthcare, retail and BFSI verticals. GAVS claims to have partnered with a strong line of global clients in the US, India, and Middle East. It will use the funds to leverage global relationships of Kedaara to deliver digital transformation services to a larger pool of customers. Quillon Partners served as legal counsel, Ernst & Young as the financial advisor, and Deloitte served as the tax advisor to Kedaara. Lexygen served as the legal counsel, KPMG served as tax advisor and Avendus Capital served as the exclusive financial advisor to GAVS.
From the Venture Intelligence Private Company Financials Database: For FY21, GAVS Technologies had reported an operational income of INR 217 Cr, up over 1.5x from the previous fiscal. Net Profits grew over 9x during the period. (Subscribers to the database can login to view the detailed financials.) From the Venture Intelligence PE-VC Deal Database: In Jun-10, GAVS Technologies had raised funds from Basil Partners.
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