Everstone, Goldman Sachs buy into US based Infostretch

Infostretch’s customer list includes BMW, GlobeOne, Knipper, L'Oreal, Marriott, Roche, Silicon Valley Bank, Starwood, T-Mobile and Vodafone.

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Everstone Capital, founded by former Goldman Sachs bankers Sameer Sain and Atul Kapur, manages assets in excess of $5 billion. Everstone's major portfolio companies include Burger King, OmniActive, Modern Foods, Indostar, Hinduja Leyland Finance
Private equity firm Everstone Group and Goldman Sachs Merchant Banking Division have acquired a significant minority stake in Infostretch, a leader in digital engineering services. The investment will help accelerate the company’s business growth and expand its digital engineering service offerings for both enterprise and digital native companies, according to a company statement.

Infostretch’s customer list includes BMW, GlobeOne, Knipper, L'Oreal, Marriott, Roche, Silicon Valley Bank, Starwood, T-Mobile and Vodafone.

"This investment will enable us to build on those strengths and take advantage of the growing need for more innovative digital solutions in verticals like healthcare, financial services and technology,” said Rutesh Shah, CEO and co-founder of Infostretch.


According to research firm IDC, Global spending on Digital Transformation Technologies and services is forecasted to grow 10.4% in 2020 to $1.3 trillion. According to research firm Zinnov, the digital engineering services market is expected to reach $687 billion by 2023, a five-year CAGR of 18%. This growth has been fueled by businesses looking for new ways to differentiate products and services, engage with customers in new ways, and streamline operations.

Infostretch works across the entire software development lifecycle, from strategy through execution and operations, helping companies overcome the biggest technical obstacles in their digital efforts. Its team of 1,200+ global engineers offers core capabilities in cloud, data, IoT, mobile and UI/UX, leveraging data and analytics.

With Goldman Sachs Merchant Banking Division and Everstone Group on board, the company can leverage the firms’ relationships, capabilities of their domain specific operating partners and their merger & acquisition (M&A) experience, as it looks to continue to grow the business and expand its portfolio of solutions globally, said the statement.
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“Digital will be the core differentiator for businesses of all sizes in almost every segment over the next five to ten years,” said Avnish Mehra, Senior Managing Director at Everstone Group.

The homegrown private equity fund Everstone Capital also owns Everise, a Singapore based IT services firm. Everstone, which holds a significant majority stake in Everise, plans to sell the business and hired investment bank Barclays to find a buyer.

Everstone Capital, founded by former Goldman Sachs bankers Sameer Sain and Atul Kapur, manages assets in excess of $5 billion. Everstone's major portfolio companies include Burger King, OmniActive, Modern Foods, Indostar, Hinduja Leyland Finance
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