December 23, 2020
Wayne, PA; Dallas, TX – Prime Technology Group (Prime), a leading global technology services provider and Synerzip, a leading-edge Agile software product development partner for high-growth technology companies today announce that they have merged.
At the heart of each company are teams of US and India-based software professionals, industry and subject matter experts, and software architects who plan, build, implement, and support digital transformation and software development initiatives for their clients. The merger of Synerzip and Prime more than doubles the combined team and extends their global reach, increasing the breadth of knowledge and areas of expertise available to clients.
“We are excited to combine the Prime family with the Synerzip family, consistent with our strategy to add complementary software development capabilities which strengthen our vertical market domain expertise,” said Sudhakar Goverdhanam, Prime’s Founder/CEO. He added, “We are excited to work with the Synerzip leadership team to continue to delight their clients and our clients with our combined strength.”
Prime leverages deep industry expertise, proprietary intellectual property (IP), and custom-built software frameworks to solve critical pain points in clients’ business operations. Core solution offerings provide the tools and support for clients to easily adapt to advances in technology and new business requirements with minimal interruption to operations.
Synerzip works closely with clients to accelerate their product and software development roadmap, using agile development practices to scale clients’ engineering. Each client works with a dedicated team focused on driving continuous improvement through digital transformation.
“By joining with Prime, our clients will have access to Prime’s broad range of technology capabilities and industry expertise,” said Hemant Elhence, Co-Founder and CEO of Synerzip. “The combined capabilities of Synerzip and Prime will enable us to deliver higher business value to our clients and to accelerate their digital transformation efforts.”
“When Hemant and I started this company in 2004, we could not have envisioned the growth and the 500 employees who have become family to us,” Vinayak Joglekar, co-founder and CTO of Synerzip added. “I echo the words of Hemant—I am excited about the combined offerings of Synerzip and Prime and together with our merged teams, we will continue to keep our focus on clients and building great software products with them.”
In December 2019, Prime was acquired by Frontenac, a private equity firm focused on investing in the lower-middle market across the consumer, industrial and services markets. With this merger of Synerzip with Prime, Frontenac continues to support both organic and inorganic growth through an aggressive acquisition plan for Prime that focuses on delivering software development, application development and managed software solutions to highly regulated industries.
About Prime Technology Group
Prime Technology Group is a global, technology services Company. The Company provides outsourced software application development solutions, managed software solutions, and enterprise content management solutions for highly regulated industries including healthcare, insurance, and financial services. Prime works with clients to develop, deliver, and then maintain and support complex technology systems that are critical to the client’s core business operations. The Company’s core practice areas include application development, data management, content management, and cloud services. The Company is headquartered in Wayne, PA with additional offices in Detroit, MI, St. Paul, MN, Markham, Ontario, and Hyderabad, India. Prime Technology Group is a Frontenac portfolio company. For more information, please visit www.primetgi.com.
Synerzip is a leading-edge Agile software product development partner for high-growth technology companies, helping them accelerate their product roadmap in a flexible and capital-efficient manner. The Synerzip team helps its clients throughout the SAAS product life cycle, including UI/UX Design, Development, and Delivery – incorporating cutting edge technologies like AI/ML/NLP, AR/VR, and IoT/Edge computing, along the way. As a services partner with leading cloud technology vendors, Synerzip helps its clients adopt and accelerate their cloud roadmap, with enabling expertise like Cloud Data Engineering, Microservices & Serverless Architecture, and DevOps & Containerization Practices. Synerzip is an AWS Advanced Consulting Partner, Microsoft Azure Gold Partner, and Snowflake Services Partner. For more information, please visit www.synerzip.com.
Frontenac is a leading private equity firm, based in Chicago. The firm focuses on investing in lower middle market buyout transactions in the consumer, industrial, and services industries. Frontenac works in partnership with proven operating leaders, through our executive-centric approach called CEO1ST, to identify, acquire, and build market leading companies through transformational acquisitions and operational excellence. The firm has built a leading franchise working with over 275 owners of mid-sized businesses, almost always families or founders, as they address complex transition issues of liquidity, management enhancement, and growth planning. For more information, please visit www.frontenac.com.
Press Contact: Jill Hoersten