Pune, India, 30 Jul 2018
Zensar, an RPG company, and the management of Indigo Slate, today announced they have entered into a definitive agreement for Zensar to acquire US West Coast-based Indigo Slate. Indigo Slate is a digital marketing focused customer experience agency with revenues of approximately $20 million in fiscal 2018.
The addition of Indigo Slate will strengthen Zensar's capabilities in this fast-growing segment. In fiscal 2017, Zensar had acquired Foolproof, a UK-based digital experience firm, to build its digital services business.
Indigo Slate adds digital marketing expertise in the US, strengthening and broadening Zensar's US-based customer experience and digital transformation capabilities. Digital revenues have been growing at a 30% CAGR for Zensar and contributed to more than 38% of Zensar's fiscal 2018 revenue, one of the highest in the Industry.
Zensar Technologies will acquire the entire share capital of Indigo Slate, which will be funded by a mix of internal accruals and external debt
Indigo Slate has been recognised for its capabilities, and has been among some of the fastest growing private companies in its area of expertise for two years in a row: 2016 and 2017. The agency brings extensive and in-depth expertise in having managed cutting-edge projects with leading global brands and Fortune 500 companies. It is an outside-in experience innovation agency that focuses on creating smart experiences enabled by a unique combination of skills and advanced technologies. It has a one-of-a-kind CX platform, Ruptive.cx, which sharpens customer experience mapping. Billed as the "world's first human experience innovation platform", Ruptive holds a unique place at the intersection of technology and the customer experience.
Commenting on the acquisition, Harsh Goenka, Chairman of RPG Enterprises and Zensar, said: "Digital services is pivoting the overall growth of Zensar. We acquired Foolproof in the UK in 2016 to bring in the capabilities in the digital experience design space. Now, with Indigo Slate on board, we look forward to bringing in more value to our global customers who rely on Zensar to deliver long-lasting digital transformation strategies."
"We are delighted to welcome Indigo Slate to the Zensar family. With Indigo Slate, we have taken another major step towards providing customer experience, digital marketing and design capabilities to our clients in the US," said Sandeep Kishore, Chief Executive Officer and Managing Director, Zensar. "Our Return on Digital focus in the Chief Marketing Officer and Chief Digital Officer led areas are very well-positioned with this enhancement in our combined capabilities."
Sandy Sharma, Co-founder and Chairman, Indigo Slate, commented: "We have been on an amazing journey with our clients over the last decade to fulfil our vision to fundamentally change the way humans experience and interact with the brands that touch their lives. With Indigo Slate joining the Zensar family, we will now have an exponential ability to deliver on this vision."
Aaron Duggal, Co-founder and CEO of Indigo Slate, added: "With Zensar, we are looking forward to more reach and access to new markets, while leveraging their expertise in managing large digital transformation mandates. Both sets of our customers will benefit from this combination of scale, creative thinking, technology platforms and immersive customer experiences."
Indigo Slate works closely with clients to design and produce the entire suite of communication packages, which can be delivered through digital media. They bring marquee clients across hi-tech, retail and manufacturing sectors into the Zensar fold. The company has 120 employees located in Seattle and San Francisco. The team brings expertise across strategy and innovation, experience design, audience activation and engagement technology. This acquisition adds more depth and breadth of expertise to Zensar's current digital offerings.
This acquisition also adds to Zensar's well-known 'Return on Digital' strategy that works on creating significant business impact for clients through scalable digital transformation programmes. Global enterprises are increasingly dependent on technology to enhance and recreate customer experience smartly and swiftly. Currently, Zensar's organic digital services portfolio with those of Foolproof brings in a unified ecosystem of creative, technology and design capabilities. Zensar is excited to continue this evolutionary journey in the digital ecosystem with the addition of Indigo Slate.
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