Agreement in Place for CIGNEX Datamatics to be Acquired by Relevance Labs

Relevance Lab, a Singapore based IT Company, acquires shares in CIGNEX Datamatics , a prominent provider of Open Source, Cloud and Automation Technology solutions and services, through a share-swap agreement. Strategic divestment by shareholders of their stakes in CIGNEX Datamatics led to the acquisition.

A specialist in IT services with reusable assets, Relevance Labs has been operating in the areas of Devops, Cloud, Animation, Digital, Service Delivery and Supply Chain Analytics that enable global organizations achieve frictionless business by transforming their Infrastructure, Applications and Data to provide business scale, operational efficiency and superior customer experience. Michigan-based CIGNEX Datamatics has been helping organizations achieve Digital Transformations with services and solutions based on Open Source, Cloud and Automation tools and technologies since 2000 with the help of leading platforms & tools which are integrated with existing systems to achieve unparalleled results.

Vidur Bhogilal, Chairman, CIGNEX Datamatics comments, “Along with similar service offerings, both the

The combined entity will be able to accelerate this shared vision by ensuring that the right capabilities are in place to meet existing, as well as emerging, customer needs with speed and scale

companies share the same vision of delivering superior experience & operational efficiency to the customers. The combined entity will be able to accelerate this shared vision by ensuring that the right capabilities are in place to meet existing, as well as emerging, customer needs with speed and scale”.

Raja Nagarajan, CEO, Relevance Lab says, “The addition of CIGNEX Datamatics expertise bolsters our capabilities in the current areas of operations and will enable us to offer more comprehensive digital transformation solutions to enterprise across the globe”. He further adds, “We are excited with CIGNEX Datamatics inclusion into Relevance Lab family, and look forward to solving the complexities of digital enterprises by leveraging our combined capabilities”.

The new deal will see Datamatics Global Service Ltd (DGSL) – a global IT & BPM Company and the major stakeholder in CIGNEX with 62.5 percent stake through its step-down subsidiary – holding 21 percent share in the combined entity. The combined company will have a integrated offering approach with robust services and solutions for the customers.