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Nevales announces the acquisition of Syntensia
By siliconindia
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Wednesday, 31 March 2010, 23:05 IST
Mumbai: Nevales Networks has announced its acquisition of privately-held Syntensia, a security on-demand services provider. Nevales has acquired all IP rights, customers base and assets of Syntensia.
According to Nevales, the acquisition of Syntensia is in line its strategy, to deliver to Small and Medium Businesses (SMB) solutions and services for connectivity, communication, transaction and business applications on a secure platform with 24/7 support.
Ravishankar, Co-Founder and Chief Executive Officer of Nevales Networks, said, "The team and private investor group at Nevales understands that security plays a very important role for SMBs and this acquisition of Syntensia is a major step forward in the company's strategy to deliver solutions and services with the help of SaaS and cloud computing technology that meet our customers' current and future need for a complete and secure business network."
A private investor group headed by Ravishankar leads this acquisition. He is an experienced banker with over 15 years of experience in Indian and global banking. Prior to leading Nevales, Ravishankar was the Country Head for Direct Banking and Cash Management at Yes Bank, a major Indian private sector bank.