Prodapt Acquires MSP Synophic Worldwide; Seeks to Modernize Telecom Companies
Prodapt, which builds solutions that transform telcos into digital service providers (DSPs), has acquired Synophic Worldwide, a global managed services provider (MSP). Financial terms of the deal were not disclosed.
This is technology M&A deal number 103 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals for 2022, 2021 and 2020 listed here.
Headquartered in Silicon Valley, Synophic has over 600 employees and operations in the United States, Australia, Japan, Mexico, Philippines, Colombia, India and Chile. The acquisition expands Prodapt’s presence in the U.S./LATAM regions and offers an entry into the APAC markets including Japan, Philippines and Australia, according to the company.
The deal is part of Prodapt’s strategy to invest $45 million in its capabilities around network virtualization and cloud adoption. Additional investments have been planned in areas around network cloud, autonomous networks and NetSecOps, the buyer said.
Prodapt Acquires Synophic: Executive Insight
Vedant Jhaver, chairman and CEO, Prodapt, commented:
“I am delighted to welcome Kondal Rao and the Synophic Worldwide team to the Prodapt family. 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.”
Kondal Rao, CEO, Synophic Worldwide, said:
“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. 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.”
Prodapt’s customers range from telecom operators, digital/multi-service providers (D/MSPs), technology and digital platform companies. The company has offices in North America, Europe, Latin America, India and Africa. It is part of the business conglomerate The Jhaver Group.
This is Prodapt’s deal of the year following its acquisition of Silicon Valley-based Innovative Logic in August and SLR Dynamics.
Avendus Capital was the exclusive financial advisor to Prodapt on this transaction while BDA Partners acted as the exclusive financial advisor to Synophic Worldwide.