December 23, 2020
Clearsight Advises Synerzip on its Merger with Prime Technology Group
Clearsight Advisors, Inc. (“Clearsight”) is pleased to announce another successful cloud and product engineering transaction, the eighth deal within the last 24 months for the firm’s Digital Transformation practice. Clearsight served as exclusive advisor to Synerzip, LLC (“Synerzip” or The Company”) on its merger with Prime Technology Group, LLC (“Prime”), a portfolio company of Frontenac.
Headquartered in the U.S. with a significant development center in India, Synerzip is a leading provider of agile software development services whose product designers and engineers deliver mission-critical applications for clients. With over 16 years of agile software development experience, The Company offers the full range of development solutions including UX design, full stack engineering, devops, and advanced analytics. Synerzip’s cross-border merger with Prime will broaden Synerzip’s industry expertise in healthcare, insurance and financial services domains while expanding The Company’s U.S. presence.
“We selected Clearsight Advisors after going through a diligent search process for an investment banking advisor who could demonstrate a deep understanding of our technology services industry niche and the complexities of our global delivery model. The Clearsight team delivered as promised. They were diligent in working through the entire process with us, while keeping our interests ahead of any pressure to get the deal done. Their entire team worked relentlessly to problem solve and resolve the myriad complexities that came up in this cross-border transaction structure, while always keeping our best interest in mind. Ultimately, Clearsight helped us achieve an excellent outcome that we, the founders and the management team, are all excited about pursuing as the next chapter of our professional challenge,” lauded Hemant Elhence, Co-founder and CEO of Synerzip.
Gretchen Frary Seay, Clearsight Co-founder and Managing Director remarked, “We are thrilled to have been a part of helping Synerzip execute this milestone transaction in their evolution. It was an honor to work with such high integrity and impressive people. The Synerzip leadership team has been a pillar of innovation and mentorship in the Texas technology community and beyond and we look forward to Synerzip’s continued growth on a global scale.”
Philo Tran, Clearsight Managing Director and head of Clearsight’s Digital Transformation practice, added, “The Synerzip team has built a successful company known for building cutting-edge cloud-based software solutions and elegant UX designs. Prime is a highly complementary merger partner backed by a great financial sponsor. I’m excited for the teams of both companies and am confident we are going to see great things from them in the future.”