Siguler Guff buys majority stake in IT company Solvd
Solvd, an IT company, announced that it has attracted a majority stake in the investment from Siguler Guff & Company, a global multidisciplinary private equity firm with experience in digital product development.
With Siguler's support, guff Solvd will be able to further expand its development division and strengthen its capabilities in automating testing, application development, and DevOps solutions for customers. The company will also continue to strengthen its management team by adding sales professionals and engineers in the United States.
"Siguler Guff's investment is an important confirmation of the value of our work and the experience that our employees and management team have gained working for our clients. Siguler Guff's knowledge of the industry, strong relationships, and work style make them the perfect partner. We are thrilled to be a major investment in their flagship development fund and welcome Drew Gaff and Sean Hubchandani to our Board of directors," said Alex Khursevich, CEO of Solvd.
Meanwhile, drew guff, Managing Director and founding partner of Siguler Guff, noted that the company has previously invested in industry leaders-EPAM Systems and GlobalLogic.
"We are very excited to continue in this direction with the Solvd team to support the development of their quality software product and services for customers," he said.
Solvd is a global technology consulting and software development company with more than 600 engineers in eight countries in Latin America, North America and Europe. Solvd specializes in Software Quality Control and testing automation consulting.
Siguler Guff is a leading international multi-strategic private equity firm. Together with its subsidiaries, it has approximately активів 17 billion in assets under management as of June 30, 2022 and more than 30 years of investment experience. Siguler Guff's main investment strategies include opportunistic and private loans, small private companies, distressed real estate, and emerging markets.
