Prodapt announced that it acquired Synophic Worldwide, a global company providing network transformational and managed services to Digital Service Providers (DSPs), ISVs, product and platform companies.
Founded in 2009, Synophic employs over 600+ people globally, and is a trusted partner for leading OEMs/NEMs, ISVs, and Enterprises for their technical depth and matured managed services execution in the network design, engineering, and NOC services. This acquisition further expands Prodapt’s presence in the US/LATAM regions and provides an entry into the APAC markets including Japan, Philippines, and Australia.
Prodapt had earlier announced plans to invest US$45M in deepening its capabilities in network virtualization and cloudification segment, and the Synophic acquisition is part of this investment strategy. Additional investments have been planned in areas around Network cloud, Autonomous networks, and NetSecOps.
With Synophic’s acquisition, Prodapt strengthens its network services portfolio and enables Prodapt to offer end-to-end services around network transformation, network orchestration, and automation to network-managed services.
“I am delighted to welcome Kondal Rao and the Synophic Worldwide team to the Prodapt family,” said Vedant Jhaver, Chairman and CEO of Prodapt. “Synophic’s wide range of capabilities in network solutions, cloud, IoT, mobility, data centers, and security augments our portfolio of network transformational services and further expands our services that help accelerate connectedness.”
Synophic is Prodapt’s third acquisition this financial year. Prodapt earlier announced the acquisitions of Innovative Logic and SLR Dynamics. These acquisitions further enhance Prodapt as the partner of choice for the largest companies in the Connectedness vertical.
Joining forces with Prodapt will help expand our managed services and network transformation portfolio. This will also open a plethora of growth potential for the employees of Synophic,” said Kondal Rao, CEO, Synophic Worldwide. “I am pleased to be part of the Prodapt team and excited about the multi-fold scale with which we can operate and leverage Prodapt’s transformational expertise in delivering solutions to our customers.”
Avendus Capital was the exclusive financial advisor to Prodapt on this transaction while BDA Partners acted as the exclusive financial advisor to Synophic Worldwide.