In what could be termed a trendsetter in the Kerala’s IT sector, three home-grown tech service companies have joined hands to become one to form a consolidated, more capable technology provider to meet the growing global demand.
Sinergia Media Labs (Simelabs), Goodbits, and Logiticks came together in the wake of rising global demand for technological talent in finance, healthcare, education and art.
The merger gains significance as it is the first kind consolidation of Kerala companies intending to serve global demands. The increased demand for technological talent will result in a massive digital transformation with technological advances in Mobility, Cloud, IoT, Robotics, AI, Blockchain, Metaverse.
Software space in Kerala has been thriving for the last couple of decades. More than 900 software companies in the State employ around 1.5 Lakh people. Only a few companies scale up and become large organisations; the rest become lifestyle businesses with about 50-100 employees or are acquired by larger software companies looking to expand operations to India.
The merger will strengthen hiring, training, IP development, sales, and marketing process, enabling the group to reach out to quality clients and helping the group to reach a critical mass for aggressive growth and large and long-term customer engagements. After the consolidation, the group will have over 250 employees and plans to grow it to 1,000+ by the end of 2023.
The group, which has the experience of working with leading global brands under Fortune 500 companies, has initiated the plan to raise private equity funds and targets to go public in the next few years. The merger helps cover the US, Europe, Australia and Asia markets.
Derrick Sebastian, CEO, Simelabs said the increased resources would make the company capable of providing quality customer service, particularly in delivering the best partnership experience to customers.
Kannan Surendran, CEO, Logiticks, said: “Each company brings distinct advantages to the table and together we will be bigger and stronger, which means we will be able to serve our clients better, our team will have accelerated career paths and everyone on board will have more opportunities to grow and larger dreams to chase.
Arjun Menon Kalayakkat, CEO, Goodbits ‘ We found that each of the individual brands complements each other in many areas, which makes a strong global brand and home grown when brought together.
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