Zensar Acquires Keystone Logic: Targets Leadership in Digital Commerce and Omnichannel Services

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Zensar Technologies Limited, an RPG Company and the management of Keystone Logic today announced that they have entered into a definitive agreement for Zensar to acquire the business of Keystone Logic Solutions Private Limited

Keystone’s market leadership in Omnichannel and Order Management and the strong management team leading the business, are strategic to Zensar’s plan to increase market share in Digital Commerce.

Zensar Technologies Limited, an RPG Company and the management of Keystone Logic today announced that they have entered into a definitive agreement for Zensar to acquire the business of Keystone Logic Solutions Private Limited.

In addition, Zensar Technologies Inc., a wholly owned subsidiary of Zensar Technologies Limited will acquire Keystone Logic Inc., a wholly owned subsidiary company in Atlanta, US of Keystone Logic Solutions Private Limited.

Under the terms of the agreements, Keystone Logic Inc. will be a wholly-owned subsidiary of Zensar Technologies Inc. and the business of Keystone Logic Solutions Private Limited will become a part of Zensar Technologies Limited on completion of the transaction. The deal will be financed by internal accruals, and will be EPS positive for the company.

Keystone Logic is a leading Omnichannel and Digital Supply Chain company, headquartered in Bangalore in India with an office in Atlanta, US. The company helps global retail and consumer brands with implementation of their Order Management and Warehouse Management. It also helps with their integration with the Digital Commerce and Omnichannel fulfilment strategy.

Announcing the acquisition, Harsh Goenka, Chairman of RPG Enterprises and Zensar said, “Keystone’s market leadership in Omnichannel and Order Management and the strong management team leading the business, are strategic to Zensar’s plan to increase market share in Digital Commerce. The integrated proposition of the two companies will augment the value Zensar delivers to its Retail and Consumer clients.”

“A robust and digital supply network is quintessential for a commercial enterprise in today’s times. We believe Keystone Logic is a critical piece in our Digital Commerce strategy and will go a long way in earning our Retail and Consumer clients’ interest and loyalty”, said Sandeep Kishore, Chief Executive Officer and Managing Director of Zensar. “Keystone continues to augment the Zensar Omnichannel services portfolio by bringing Order Management and Warehouse Management expertise. With the deep skills in the dominant fulfilment solution in the retail market and expertise in direct to consumer fulfilment, this acquisition fortifies Zensar’s digital commerce offerings and furthers the company’s ability to work with Retailers to improve outcomes for their customers, and to drive innovation through digital supply chain. It helps sharpen our focus on delivering Return on Digital™ to our clients”, he added.

“We have worked with innumerable Retailers to unlock their full potential by reinventing their supply chain strategy by digitally fortifying their supply network through our order management and warehouse management expertise. Joining forces with Zensar will give us access to greater resources, and will extend our global reach, to help us in our mission to enable Retailers worldwide to derive significant and sustainable value from their supply chain investments while transforming their supply chain as an engine of future growth”, said Ravi Joshi, Founder and CEO at Keystone Logic.

With Keystone Logic’s leadership in enabling customers to derive significant and sustainable value from their supply chain investments and transforming their digital supply chain as an engine of future growth, combined with Zensar’s proven track record in digital commerce services, the company is well positioned to be an end-to-end Digital Transformation Services partner for its clients keen to maximize their Return on Digital™ by focusing on the key aspects of Omnichannel and Digital Supply Chain.

Keystone Logic brings marquee global brand clients into the Zensar fold. The addition of Keystone Logic’s 210 consultants, with knowledge and understanding in omnichannel fulfilment and digital supply chain will strengthen Zensar’s Digital Commerce capabilities. Keystone Logic will continue to be managed by Founder and CEO Ravi Joshi. Keystone’s management team and all their associates based in Atlanta and Bangalore will become a part of Zensar’s Global Digital Commerce Services business unit. Keystone Logic's financial advisors were Sett & Lucas. Zensar was advised by Nishith Desai Associates and KPMG.

About Zensar (http://www.zensar.com)
Zensar is a leading digital solutions and technology services company that specializes in partnering with global organizations across industries on their Digital Transformation journeys. A technology partner of choice, backed by strong track-record of innovation; credible investment in Digital solutions; assertion of commitment to client’s success, Zensar’s comprehensive range of digital and technology services and solutions enable its customers to achieve new thresholds of business performance. Zensar, with its experience in delivering excellence and superior client satisfaction through myriad technology solutions, is uniquely positioned to help them surpass challenges around running their existing business most efficiently, helping in their legacy transformation, and planning for business expansion and growth through innovative and digital ways.

About RPG Enterprises (http://www.rpggroup.com)
Mumbai headquartered RPG Enterprises is one of India's largest industrial conglomerates. With over 15 companies in its fold, the group has a strong presence across core business sectors such as Infrastructure, Tyre, IT and Specialty. Established in 1979, RPG is also one of India’s fastest growing business groups with a turnover in excess of USD 3.2 Billion, 20000+ people and a global presence in over 100 countries.

About Keystone Logic (http://www.keystonelogic.net)
Keystone Logic is a focused, successful and skilled organization in the Omnichannel fulfilment space. The company’s goal is to enable customers to derive significant and sustainable value from their supply chain investments while transforming their supply chain as an engine of future growth.

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PR Contacts (Global Headquarters - India):

Lavanya Jayaram
Chief Marketing Officer
Zensar Technologies
+91 9922243544

Aradhana Prabhu
Public Relations
Zensar Technologies
+91 9765999749

PR Contacts (US Region):

Julie Machnik
Director, Marketing, US
Zensar Technologies
+1 508.942.8290

Safe Harbour
Certain statements in this release concerning our future growth prospects are forward-looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. The Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.

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Julie Machnik