Billionaire tech entrepreneur and former chess champion Alan Trefler’s Pegasystems acquired an IIM-Bangalore incubated analytics start-up MeshLabs. Gravitas Advisory was investment banker to the transaction.
Billionaire tech entrepreneur and former chess champion Alan Trefler’s Pegasystems acquired an IIM-Bangalore incubated analytics start-up MeshLabs. Gravitas Advisory was investment banker to the transaction.
Pegasystems will integrate MeshLabs's text analytics software to gather unstructured social media data and decode it into actionable business insights for its clients.
MeshLabs -- incubated at IIM Bangalore in 2009 -- counts Wipro, Genpact and Ogilvy as its clients. The co-founders Venkatesh Rao, Sampath Herga, Arijit Mitra, Shantanu Gudihal and rest of the team will join Pegasystems post acquisition.
"With MeshLabs technology, our customers will be able to monitor social media streams, as well as other channels and data sources, and immediately apply analytics and automate cases in response, delivering a real-time, personalised customer experience," Alan Trefler, Founder & CEO, Pegasystems said.
"Our venture was a classic bootstrapped venture with just eight employees and 16 clients. We decided to make Pegasystems our home, but it has been a tremendous learning experience till now," MeshLabs, CEO, Venkatesh Rao said.
Indian IT majors are scaling up their social media, mobility, analytics, and cloud (SMAC) play as it becomes $6-8 billion opportunity for the country's $118 billion IT-ITeS sector as they are betting big on non-linear growth.
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