BURLINGTON, Mass. and GURGAON, India, Dec. 1, 2021 /PRNewswire/ -- Outcomes Business Model leader, Quantela Inc., announces today that it has entered into an agreement for management control of the Indian business of TerraCIS Technologies Ltd., (TTL) a pioneer in land governance and smart city solutions. This agreement will further expand the economic, social, and environmental outcomes Quantela can offer through digitization and data-driven insights.
Supported by investment partners, Gateway Partners, and Avenue Capital Group, Quantela will assume immediate operational control of TerraCIS' business in India, and full ownership through a restructuring process in due course.
The transaction further enables Quantela to improve outcomes for governments and cities by reducing the time and costs spent on the traditionally manual processes of land registration and records management by removing access barriers to data through digitization.
"This agreement for TTL in India creates an exciting addition to our existing offering suite as we can combine our smart city expertise to bid for significantly larger projects with greater community impact in India and beyond. At the same time, we can leverage Quantela's global presence to extend our digital land registration and records management offering worldwide," said Sridhar Gadhi, Quantela Founder and Executive Chairman.
"This is our second transaction in three months, and we're privileged to have the support and trust from investment partners, Gateway and Avenue as we continue to grow our organization. Our immediate focus is to onboard the TerraCIS teams and integrate our tools and processes, whilst maintaining our commitments to existing customers and partners," said Amr Salem, Chief Executive Officer, Quantela. "Quantela association will provide existing TerraCIS customers with the security of working with a larger company and the opportunity to take advantage of our additional offerings to achieve greater outcomes."
About Quantela Inc.:
Quantela Inc. founded in 2015, is a technology company that offers outcomes business models through the digitization of urban infrastructure. Unlike other technology companies, we tailor our offerings (what we can digitize) and the business model (how we partner with our customers to deliver that digitization) to drive measurable impact where our customers need it most. Today, working with cities and towns; utilities, and public venues, our team of 280+ experts offer a vast array of outcomes business models through technologies like digital advertising, smart lighting, smart traffic, and digitized citizen services. We are supported by our key investors, Digital Alpha, a leading alternative asset manager focused on Digital infrastructure; and Energy Impact Partners, a global investment platform leading the transition to a sustainable energy future. The company is headquartered in Burlington, Massachusetts in the United States of America with offices across Europe, and Asia.
About TerraCIS Technologies Ltd.:
TerraCIS is a global technology leader with more than a decade of experience in providing the best-in-class IT solutions for efficient citizen service delivery and smart governance, through smart infrastructure. TerraCIS's primary focus is in creating an engaging experience for all its customers, thereby ensuring an effective advantage over the competition. With high expertise in cutting-edge technologies, the company has become a pioneer in analytics, system integration, and IT Infrastructure management services.
About Gateway Partners:
Gateway is an emerging markets-focused manager investing responsibly in growth and strategic opportunities in proven companies across South and Southeast Asia, Middle East, and Africa. For more information, please visit www.gatewayfund.net.
About Avenue Capital:
Avenue Capital Group is a global investment firm that focuses on private and public debt, equity and real estate markets in the U.S., Europe, and Asia. As of October 31, 2021, Avenue manages assets estimated to be approximately $11.8 billion on behalf of a sophisticated global base of institutional investors including pension funds, family offices, foundations, insurance companies and sovereign wealth funds. Avenue was founded in 1995. For more information, visit https://www.avenuecapital.com.
Notes to Editors
- On 3 August 2021, Quantela, Inc. announced that it had acquired CIMCON Lighting. Read more here.
Vice President, Marketing, Quantela Inc.
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Phone: +971 508 399 362
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Phone: +1 978 846 2659
SOURCE Quantela, Inc.