(PRWEB) November 17, 2014
Vedicsoft Solutions, LLC ("Vedicsoft"), a global leader in Business Analytics solutions, today announced that it has completed a management-led buyout from its founders. The buyout was led by Vedicsoft President & CEO Nick Sharma and backed by Sowell & Co., a Dallas-based privately-held investment firm. As part of the transaction, Vedicsoft also announced the acquisition of Uclid IT Services Pvt. Ltd., India based offshore delivery and training company.
Vedicsoft will continue to focus on providing Business Analytics Services through professional staffing services, packaged solutions and business accelerators powered by its IP. Vedicsoft plans to expand its focus on industry verticals starting with the telecom industry and eventually enhance its presence in key data intrinsic industry verticals including retail, media and advertising, finance, and life sciences.
“This was a strategic move to unleash enormous growth potential for our company,” said Nick Sharma, President & CEO. “This autonomy will allow us to continue to innovate and further expand our one-of-a-kind network and Business Analytics expertise to better serve our world-class clients.”
"We are excited to partner with the Vedicsoft team. Vedicsoft is a great example of the kind of company we look for as investors and brings a cohesive, quality management team, strong client relationships and integrated technology solutions in the big data space," said Will Schramme, Managing Director at Sowell & Co.
Texas Capital Bank provided the senior financing and Farragut Capital Partners provided the mezzanine financing for the transaction. Terms of the deal were not disclosed.
About Vedicsoft Solutions, LLC
Vedicsoft (http://www.vedicsoft.com) has helped customers use the right tools to analyze and warehouse data for over 15 years by providing professional staffing services and Business Intelligence and data warehousing solutions to fortune and mid-market customers in the insurance, life sciences, finance, manufacturing, retail, telecom, government, and entertainment industries. Vedicsoft is headquartered in Iselin, New Jersey and has over 400 employees across the United States and India.
About Sowell & Co.
Sowell & Co. (http://www.sowellco.com) is a Dallas based privately-held investment company investing in corporations since its inception in 1973. The firm invests its own capital in each opportunity. Sowell & Co. utilizes its diverse background and experience to identify opportunities and create long-term value for the business, employees and shareholders.
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