CINCINNATI, Jan. 26, 2017 /PRNewswire/ -- Vora Ventures, a privately held equity group that specializes in building innovative IT companies worldwide, is creating jobs and expanding its footprint in Cincinnati as it announced the acquisition of the 128,000 square-foot office complex located at 100 Tri County Parkway in the City of Springdale. The acquisition represents a significant public-partnership between Vora Ventures, Jobs Ohio, REDI Cincinnati, and the City of Springdale.
"Our financial and mortgage processing business at Ascendum Solutions is growing rapidly. Thus, we needed a larger space in a central location with access to the type of talent we require," explained Kris Nair, CEO of Ascendum Solutions. "The City of Springdale has been an excellent partner while we evaluated our options for growth, and we are excited to bring these quality financial technology and processing jobs to the Cincinnati region and to the City of Springdale."
With much of the building currently unoccupied, the planned multimillion-dollar building renovations are set to begin immediately. The expectation is to begin locating workers in the newly named Vora Solution Center by Q2 2017.
"We are excited about the partnership we have developed with Vora Ventures as they bring innovation and jobs to Springdale," said Doyle Webster, Mayor of Springdale. "Vora Ventures has demonstrated an impeccable track record of success in partnering for economic growth and creating jobs."
Over past 10 years, Vora Ventures has formed multiple successful public-private partnerships, including with the City of Hamilton and City of Blue Ash, in acquiring large, unoccupied, commercial business complexes and converting them into world-class technology workplaces such as Vora Technology Park (Hamilton) and Vora Innovation Center (Blue Ash). These public/private partnerships have resulted in the creation of thousands of tech jobs in the Greater Cincinnati region.
"Mahendra Vora and the Vora Ventures team continue to be leaders in establishing Greater Cincinnati as a national hub of technology and innovation in the digital economy," said JobsOhio President and Chief Investment Officer John Minor.
"We are grateful for the support of the City of Springdale, JobsOhio and REDI Cincinnati to make this opportunity a reality," stated Mahendra Vora, Chairman of Vora Ventures. "I am also thankful for the leadership of the cities of Hamilton and Blue Ash, which have demonstrated the success that can be gained through partnerships. Cincinnati is poised to become a leader in FinTech sector, and Vora Ventures is proud to have paved the way for that journey with a business that is expected to grow more than 50%, and to be located at the new Vora Solution Center in Springdale."
About Vora Ventures
Headquartered in Cincinnati, Vora Ventures is an MBE certified, privately held equity group that specializes in building innovative IT companies worldwide. Founded by industry veteran Mahendra Vora, the group portfolio consists of companies in the software, services and infrastructure solutions space. Vora Ventures provides resources, advice and state-of-the-art infrastructure to its portfolio companies, as well as management of financial and compliance systems, acquisition and recapitalization services, and strategic mergers.
Vora Ventures was recently named in the Deloitte Cincinnati USA 100, a list of the top 100 privately held companies in the greater Cincinnati area. In 2015, Vora Ventures was named the Technology Company of the Year by the Cincinnati Business Courier. More information at www.VoraVentures.com.
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SOURCE Vora Ventures