UDS to acquire a majority stake in Denave

PTI, Nov 15, 2021, 4:50 PM IST

New Delhi: Denave, a global technology-powered sales enablement services organization, today announced that Updater Services Pvt. Ltd (UDS), a Chennai-based integrated facilities management and business services firm has acquired a controlling interest in the firm. The investment will accelerate Denave’s long-term strategic plan and strengthen sales enablement capabilities for clients, spread across the globe. For UDS, this acquisition adds another service line to their business services portfolio, further integrating their competencies and expanding their geographic presence in key markets while enabling cross selling opportunities across the group.

Established in 1999, Denave has a credible reputation of being a global sales catalyst. The organization has leveraged systematic, planned, and tech-driven sales solutions, delivering unparalleled value to clients and people.

Speaking about this deal, Snehashish Bhattacharjee, Co-Founder and Global CEO, Denave said, “UDS investment in Denave is a testament to the technology-driven sales enablement company we have built with our enterprising team, service portfolio, client relationships, and ability to generate consistent growth. This also reflects our future growth and ability to deliver results. We are excited to welcome UDS on board as their experience in scaling companies will be invaluable in our next phase of growth.”

Raghunandana Tangirala, Founder, CEO, and Managing Director of Updater Services, said, “Denave is a growth-oriented organization, with a wide range of tech-driven sales enablement service capabilities, driving exceptional results for its clients across APAC and Europe. We are thrilled to partner with a dynamic player in this continuum. UDS believes in driving growth through strategic partnership and in Denave, we have found a team that will help us capture the large sales enablement services industry potential.”

PricewaterhouseCoopers (PwC) acted as the financial advisor and Legal Orbit was the legal advisory firm for the transaction.

About Denave

Denave is a global sales enablement company focused on driving revenue growth for its customers through a wide range of service offerings. The company leverages latest technology trends and disruptive approach to create effective sales engines. Denave has built multi-industry expertise partnering with global businesses and takes a solution-conscious approach to deliver best practices in sales by leveraging people, processes, technology and innovation to drive revenue. Denave has reach across 5 continents, 50+ countries and 500+ cities globally. For more information, please visit www.denave.com.

About UDS

UDS is a leading Integrated Facilities Management (IFM) & business services firm in the country, with operations across India. The company currently caters to clients across industries such as IT and ITeS, BFSI Manufacturing, Health Care, Hospitality, and Infrastructure. UDS Group has presence in IFM space (Facilities management services, MEP services, Managed services, and catering services) and business service space (Mailroom management and asset movement services, employee background verification services, audit and assurance services, washroom and feminine hygiene care services). Other services include airport ground handling and Port/terminal handling services. For more information, please visit www.UDS.in.