Pune, India, July 29th, 2024: Riveron, a business advisory firm backed by Kohlberg & Company, announced today its acquisition of Yantra, a technology and advisory services provider with a broad range of expertise to address the pressing needs of technology-enabled CFOs. The acquisition makes Riveron one of the largest NetSuite Alliance Partners globally, offering clients holistic solutions to enhance value. Yantra also brings significant expertise in data science and analytics, Artificial Intelligence (AI), Robotic Process Automation (RPA), and platform integrations.
Mr. Sam Shaw, CEO of Riveron, highlighted the strategic aspect behind the acquisition, saying, “Forward-looking organizations need technology solutions that will adapt and scale regardless of the business environment. With Yantra, we now have a global team to help Riveron serve the Office of the CFO and Private Equity firms to elevate performance.”
Founded in 2009 by US entrepreneur of Indian origin Vikram Bhandari, Yantra has around 300 employees across the United States, Canada, India, and the Philippines. Bhandari will join Riveron as its Chief Technology and Innovation Officer, serving clients in myriad arenas, including bringing a fresh perspective on the practical impact of AI for CFOs. With the acquisition, Riveron significantly expands its team, increasing its global headcount to over 1,000 dedicated professionals.
Mr. Vikram Bhandari speaking on the acquisition shared, “Over the years, Yantra has helped clients in adopting digital transformation across diverse technology and business landscapes. Now, as part of Riveron, we are excited to play a pivotal role in our shared commitment to growth and delivering next-generation technology to our clients.”
“Yantra’s legacy is deeply rooted in driving innovation. This acquisition will fortify Riveron’s position as technology and transformation leaders, reinforcing the value we provide to our collective clients. Looking ahead, our combined strengths will enable us to deliver a distinct competitive advantage and continued success to our clients globally” Mr. Shaw added.
Terms of the transaction were not disclosed. Canaccord Genuity served as financial advisor to Riveron. Ropes & Gray served as legal advisor to Riveron. Telegraph Hill Advisors served as financial advisor to Yantra, and Sklar Kirsh LLP served as legal advisor to Yantra.