Zensar Technologies Inc. acquires Professional Access Inc : Pune, India
Press Release | 14 Aug 2014
Targets Leadership in Retail e-Commerce Zensar Technologies Inc USA and Professional Access Inc, USA (PA) today announced that the two companies have entered into a definitive agreement for Zensar to acquire Professional Access (PA). Under the terms of the Agreement, the New York-based PA will now be a wholly-owned subsidiary of Zensar Technologies Inc. The deal will be financed by a combination of internal accruals and debt. With revenues of over USD 38 million, PA is one of the largest Oracle ATG and Endeca partners in the world. It is an Oracle Platinum partner with presence in US, UK, Latin America, Middle East and Africa. The company works with several large and mid-sized retailers in these geographies to build and implement their e-Commerce strategies. This acquisition furthers Zensar’s mission to strengthen its dominant position in the critical and fast growing Oracle e-Commerce space by combining Zensar’s Oracle EBS, Oracle Retail and Fusion Middleware solutions for global clients. With this acquisition, Zensar will be well positioned to deliver solutions that can transform the future of e-Commerce around the world. Announcing the acquisition, Mr. Harsh Goenka, Chairman of RPG and Zensarsaid, “PA’s market leadership in Oracle e-Commerce space and its strong management team is strategic to Zensar’s plan to increase its market share in the high growth e-Commerce space specifically and the MRD segment in general. The combination of the two companies will enhance the value Zensar delivers to clients in the Retail domain.” “Zensar’s proven track record with large Oracle deployments for Retail and Manufacturing clients will be significantly enhanced by the outstanding Retail Commerce credentials of PA”, said Dr. Ganesh Natarajan, Vice Chairman & Managing Director of Zensar. PA’s founders Mr. Babu Venkatesh and Mr. Ashu Chahal will continue to manage the company. Their management team and all their associates based in Bengaluru, Mumbai and Delhi-NCR will become a part of Zensar’s Global Delivery organization. “At Professional Access, everything we do is focused on helping achieve commerce excellence. As a value-driven organization, we have the ability to engage with clients in every phase of their commerce lifecycle by identifying where they stand today, drive where they want to be in the near term, and then help guide them in the long term. By joining forces with Zensar we will accelerate our ability to deliver on our vision of bringing commerce excellence closer to our clients and in becoming their transformation partners”, said Mr. Babu Venkatesh, CEO of Professional Access. Addition of PA’s 800 plus exceptional Oracle e-Commerce associates will now take Zensar’s overall Oracle practice strength to over 2200, focusing on delivering Oracle enterprise and digital commerce solutions to retailers and manufacturers globally. PA’s impressive client list significantly enhances Zensar’s retail client footprint globally. The financial advisors for this transaction were ICICI Securities Ltd and legal advisors were Nishith Desai Associates in India and Stahl Cowen Crowley Addis LLC in USA.