Chennai-based integrated facilities management and business services company Updater Services (UDS) has acquired a controlling stake in Denave, a global technology-based sales support services organization.
Raghunandana Tangirala, Founder and CEO of Update Services, said, “Denave is a growth-driven organization, with a wide range of technology-driven sales support services capabilities, delivering exceptional results for its clients. across APAC and Europe. We are delighted to be associated with a dynamic player in this continuum.
PricewaterhouseCoopers (PwC) was the financial advisor and Legal Orbit was the legal advisor for the transaction.
The investment will accelerate Denave’s long-term strategic plan and strengthen sales activation capabilities for customers around the world. For UDS, this acquisition adds another line of services to their business services portfolio, further integrating their skills and expanding their geographic presence in key markets while enabling cross-selling opportunities across the group, the statement added.
Founded in 1999, Denave has leveraged systematic, planned and technology-driven sales solutions for its customers. Speaking about the deal, Snehashish Bhattacharjee, Co-Founder of Denave, said, “UDS’s investment in Denave is a testament to the technology-driven sales support company we have created with our enterprising team, our portfolio of services, our relationships with clients and our ability to generate constant growth. It also reflects our future growth and our ability to deliver results.