GirnarSoft, the parent company behind auto portals such as CarDekho.com and Gaadi.com, has been on an acquisition spree lately. And this time, it has acqui-hired Valueserve Management Consultants Pvt. Ltd in an all cash deal. However, the financial details related to the deal remains unknown.
The move marks a diversification of the company to cater to the public sector by providing e-governance solutions, consulting and management support services.
With this acquisition, the company will have a dedicated team to service public sector clients. Post the completion of this acquisition deal, Yatendra Garg will report to GirnarSoft co-founder Anurag Jain.
Valueserve was launched in November 2010 by Yatendra Garg, a IIT Madras alumni, with over ten years of experience with several e-governance and ICT initiatives. The company has been working with leading consulting firms such as Grant Thornton, Ernst & Young, KPMG and Deloitte.
Speaking on the announcement, Anurag Jain said:
GirnarSoft is an internet conglomerate and a house of innovations with proven successful consumer portals in the auto sector amongst others. We have been creating world class portals for various consumers and with this new initiative we want to apply all the learnings we have had over the years in the public sector. Given the push to create a digital India, e-Governance solution development and consultation appealed to us as a viable option. We are confident that the acquisition of Valueserve will allow us to add great value to various e-Governance and ICT initiatives.
Yatendra Garg, Founder, Valueserve, said,
In a day and age when the boundaries between public and private endeavours are shrinking rapidly, we are witnessing an increasing number of private business entities venturing into the public sector. GirnarSoft is renowned for its expertise in delivering consumer-oriented business solutions, and there were plenty of synergies between the company and Valueserve. This development holds a lot of promise for the public sector.
This is the ninth acquisition deal from GirnarSoft in the span of just two years. Earlier, the company had made a strategic investment in Advanced Structures India. Its strategy is simple – the company is hand-picking smaller startups with a highly talented pool of founders to integrate fresh tech innovation into its platform.
The startups, which are acquired by the company, includes Volob, Connecto, Help on Wheels, Zigwheels.com, Gaadi.com and BuyingIQ. The company has also incubated and invested in CollegeDekho.com.
