Private Equity Fund Investments
Prodapt acquires US engg services firm Innovative Logic
Chennai-based IT Services firm Prodapt Solutions Pvt Ltd has acquired Santa Clara, CA (USA)-based Innovative Logic Inc, a niche R&D focused engineering services player. Spark Capital advised Innovative and its selling shareholders on the deal. Innovative delivers design/verification services in ASIC, FPGA, and embedded systems domains. It brings to Prodapt clientele across the Digital Native technology powerhouses and semiconductor giants in Silicon Valley. This is the third cross-border deal that Spark has executed remotely from end-to-end, in the backdrop of the ongoing COVID environment. It also marks Spark's 48th transaction in the Technology Services space, aggregating to USD 2.1 Billion across various segments of the Technology & Business Services space.
From the Venture Intelligence PE-VC Investments Database: In Sep-19, Prodapt had attracted $75-M from Affirma Capital.
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