PriceWaterhouseCoopers partner PwC India acquires Salesforce cloud consulting partner Venerate Solutions. Financial terms of the deal were not disclosed.
This is technology M&A deal number 564 that ChannelE2E has covered so far in 2022.
Venerate Solutions, founded in 2016, is based in Bangalore, India. The company has 147 employees listed on LinkedIn. Key areas of expertise cover Salesforce Financial Services Cloud, Salesforce Marketing Cloud, Vlocity Industry Cloud, and various integration tools.
Meanwhile, PwC hinted that Venerate Solutions was part of a broader M&A strategy that would involve continued acquisitions in cybersecurity, enterprise software, cloud and analytics.
In a prepared statement about the deal, Sanjeev Krishan, President of PwC India, said:
“As companies rush to embrace new ways of working digitally, Salesforce has become a key area of customer demand. Venerate will augment our Salesforce consulting practice with significant end-to-end capabilities in platform engineering, cloud, and managed services, furthering our ambitions as a community of problem solvers.
“This acquisition is aligned with the strategic journey we embarked on last year – a five-year vision where we have chosen priority areas and also expressed our intention to invest in high-quality talent, improve skills of our partners and staff and to add capabilities – ultimately to build trust and deliver lasting results to our clients.Our strategy is to be people and technology led, two key elements of this acquisition. This opportunity is also in line with the priority areas that we have defined, two of which are digital and alliances.”
Biswanath Bhattacharya, Founder and Director of Venerate added:
“Our strengths combined with the vast reach of PwC India provide tremendous opportunities for both our clients and our people. We look forward to working together to serve our customers and help them resolve important business issues.
Revered CEO Partho Bhattacharya said:
“The cultures of Venerate and PwC are closely aligned, while the niche skills we bring to market are complementary. PwC’s people-centric approach aligns very well with our philosophy at Venerate. »
PwC: Explore more cybersecurity and cloud acquisitions
PwC India Advisory Leader Arnab Basu hinted that more acquisitions are coming, saying:
“This acquisition marks the beginning of the inorganic growth aspirations of the Advisory business in India. To accelerate this, more such opportunities are being actively evaluated in Cyber, ESG, Cloud & Analytics. This is also part of the New Equation strategy that we launched last year.
Pawan Kumar S, Head of Technology Consulting at PwC India, concludes:
“At PwC, we leverage technology to help solve complex business problems, continuously innovate and identify new opportunities for our clients and other stakeholders,” said Pawan Kumar S, Head – Technology Consulting, PwC India. “Adding Venerate will allow us to achieve these goals faster while significantly deepening and broadening our capabilities in this space.”
The deal is expected to close in the coming weeks, PwC said.