CIGNEX, Excellerent merge with Relevance Lab to form a global powerhouse in digital transformation & cloud services
January 20, 2023, Bangalore/Delhi/Ahmedabad: CIGNEX, and Excellerent today announced its merger with Relevance Lab, to become a global powerhouse in offering digital transformation and cloud services. With this merger, Relevance Lab, headquartered in Singapore, will have delivery presence across North America, India, and Ethiopia and a global headcount of 1500+ employees. While Relevance Lab excels in DevOps/Automation on Infrastructure, Applications and Data, CIGNEX is a leader in Open-Source Technologies and Cloud that are used to engineer/deploy digital transformations & robotic process automation applications; and Excellerent, besides its Agile Engineering prowess, provides a unique differentiator with its development center in Ethiopia. The merger provides the platform to have economies of scale to have an integrated approach to address all the dimensions of digital transformation from its global development centers. The shareholders of CIGNEX and Excellerent rolled up their shares into Relevance Lab on a share swap basis. The incumbent management of the respective companies will continue to scale the firm in their new roles under the leadership of the new CEO.
With this merger, Vasu Sarangapani has joined Relevance Lab as the new President & CEO. Vasu comes with over 30 years of experience in Technology Services. Prior to taking up this role, Vasu was with GlobalLogic Inc, where he was the Chief Growth Officer and prior to that, Chief Sales Officer of the company. In his tenure spanning 9 years, he helped expand the company’s global business significantly and played an instrumental role in providing multiple exits for the PE’s. He started his career at Wipro Technologies where he played a critical role in expanding its footprint in the Manufacturing and Hi-Tech domains. As a part of their USD 500M+ Product Engineering Services organization, he managed a globally distributed sales team and acquired and managed several strategic relationships.
Explaining the rationale behind the merger, Vasu Sarangapani, incoming President & CEO, Relevance Lab, said, “Digital Transformation for enterprises is an existential necessity today and CXO’s across the world are under pressure to accomplish this quickly by leveraging technology and partnerships to gain even the smallest competitive advantage. I strongly believe that the newly merged entity, with its deep technology expertise and assets driven approach, is very well positioned to capture a big chunk of this digital services market and I am very excited to be a part of this compelling story”.
“Given that the 3 companies had a common investor and the management team’s high levels of comfort working with each other over the years, it was only natural for us to merge as one company to unify our complimentary technology offerings and service our customers. Under the leadership of Vasu, we look forward to rapidly increasing value creation for all stakeholders,” commented Raja Nagarajan, Founder & incumbent CEO, Relevance Lab, on behalf of all three entities.