Logiticks & Goodbits acquisition by Simelabs
Logiticks started off as a niche practice in Microsoft Technology stack in 2014 and grew over to become a specialized service provider in IoT, fintech, blockchain and Web3. It has been a part of FinLead group since 2017, under the leadership of Kannan Surendran. With dedicated product engineering teams for startups in US & Australia, the products built by Logiticks have been shipped to MNCs across the world including the likes of Nestle, Twitter and Microsoft.
Goodbits is a young and vibrant company founded by Arjun Menon in 2016 along with Kannan Surendran as the founding director. Agile product engineering teams for startups and Innovation PoD teams for enterprises have been the focus of Goodbits from the start. Core competencies of Goodbits include intelligent automation, AI & Machine learning and blockchain. Goodbits is also a “Great Place to Work '' certified company for its people practices.
In April 2022, Sinergia Media Labs Private Limited (Simelabs) acquired both Logiticks and Goodbits in a single deal. Simelabs is a Kochi based global digital transformation solutions provider specializing in end-to-end product development, IP enabled service, with strong client relations, and focus on leading-edge technologies. AI/ML, Data Science, Robotics, Metaverse, Blockchain, Healthcare solutions are some of the key expertise within the DNA of the company.
The 3 companies have collaborated over the years and the acquisition was the next right step for all of them. The acquisition aimed at increasing the momentum of growth, widening the spectrum of technologies & skills, expanding the market reach and strengthening the processes.
During the acquisition Derrick Sebastian, CEO of Simelabs said : “It is my staunch belief that this acquisition will bring about only positive changes for all parties involved. The increased resources will ensure that we are more capable of providing quality customer service in all aspects, particularly in delivering the best partnership experience to customers. I believe we will be able to offer great and fulfilling career opportunities to all our employees, making the company stronger and more competitive in the market.”
Triangular mergers are rare happenings and thus complicated. As a facilitator to the acquisition as well as party to the transaction, this one is another golden feather on FinLead’s cap.
