PwC India to acquire Venerate Solutions

PwC India on Tuesday said it has agreed to acquire Bengaluru-based Salesforce consulting firms Venerate Solutions Pvt. Ltd. for an undisclosed amount.

Upon completion of the acquisition, Venerate and its team of consultants and developers will integrate with PwC India's Salesforce practice, the company says.

This deal aligns with PwC's commitment to invest in the area of digital transformation and also in strategic alliances, it adds.

"As businesses race to embrace new ways of working digitally, Salesforce has become a key area of client demand. Venerate will augment our Salesforce consulting practice with significant end-to-end capabilities in the areas of platform engineering, and cloud and managed services, thereby bolstering our ambitions as a community of problem solvers," says Sanjeev Krishan, chairman, PwC in India.

The transaction is expected to close in the coming few weeks, subject to customary closing conditions.

Founded in 2016 in Bangalore, Venerate builds and deploys customised solutions on the Salesforce platform across multiple clouds including Financial Services Cloud, Salesforce Marketing Cloud, Vlocity Industry Cloud and various integration tools. These solutions help organisations reimagine the customer experience, seamlessly ramp up sales and support their growth journeys, the company says.

"Venerate's strengths combined with PwC India's extensive reach will provide tremendous opportunities, both for clients and talent alike. In fact, the people first culture of both Venerate and PwC are also closely aligned, while the niche skills that each brings to the market are complementary. This common ethos will make integrating together to serve clients and help them solve important business problems seamless," Partho Bhattacharya, CEO of Venerate, and Biswanath Bhattacharya, founder and director of Venerate, say in a joint statement.

PwC has a network of firms in 156 countries with over 2,95,000 people providing assurance, advisory and tax services.

"This acquisition marks the beginning of the inorganic growth aspirations of the Advisory business in India. To fast track this, more such opportunities are being actively evaluated in the Cyber, ESG, Cloud & Analytics domain. This is also aligned with the New Equation strategy that we launched last year," says Arnab Basu, leader- Advisory, PwC India.

"At PwC, we leverage technology to help solve complex business problems, continuously innovate and identify new opportunities for our clients and other stakeholders," said Pawan Kumar S, leader - Technology Consulting, PwC India. "The addition of Venerate will enable us to achieve these goals faster while significantly deepening and broadening our capabilities in this space."