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Shantinagar, Karnataka, India, 2007/11/05 - The Chesapeake Group Inc., a New York-headquartered boutique investment bank focusing on mid-market companies in the IT/BPO verticals, today announced that it has established a direct presence in India.
Pioneering cross-border advisory firm establishes local presence to facilitate mid-market Indian companies in their global M&A pursuit Former Infosys executive Siddhartha Padam to head Indian operations
The Chesapeake Group Inc., a New York-headquartered boutique investment bank focusing on mid-market companies in the IT/BPO verticals, today announced that it has established a direct presence in India. The Indian operations of Chesapeake will enhance its ability to deliver corporate development and strategic initiatives to domestic clients as well as allowing these Indian companies to tap into the firm’s unsurpassed track record in cross-border M&A.
Announcing the Indian entry, Douglas S. Land, Founder and Managing Director of The Chesapeake Group said, “Our experience of two decades in both the US and Indian market means we have been involved in every stage of evolution of the IT/BPO sectors. Such long experience in handling a diverse range of mandates on both sides of the border places us in a unique position to offer a strong value proposition to mid-market Indian companies by helping them move to the next level in terms of strategies for sustained growth, building higher-end services and penetration into new markets & segments. We look forward to our growth here.”
With a clear mid-market orientation, The Chesapeake Group specialises primarily in buy-side representation in merger & acquisition deals and focuses on strategic deals. The firm always strives for long-term client relationships and believes in deep strategic engagement at the CXO and board level. Chesapeake has championed the outsourced corporate development function idea and pioneered Indian offshore IT services transactions in 1994. Likewise, its’ cross-border deals involving India makes it one of the most experienced amongst the US advisory firms in this niche space. Besides India, Chesapeake has completed a number of transactions in Europe and Latin America and is in a good position to assist Indian firms look at in-organic growth opportunities in those geographies.
“There is no better time to come to India as there is today - the dynamics have changed as Indian companies are increasingly looking to the US for acquisition opportunities, and our extensive experience and network enables us to provide a level of service and access that has never before been available to mid-market companies here. We are looking forward to fulfilling this gap in the market today,” added Mr. Land.
In another related development, Siddhartha Padam, till recently a Principal in the M&A team at Infosys will move to head Chesapeake’s Indian presence as its’ Principal. According to Mr. Land, “Siddhartha brings a very strong understanding of M&A and strategic advisory in the IT, business services and software space. His task will be to establish Chesapeake as a trusted financial and strategic advisor to entrepreneurs and mid-market firms in India seeking to explore the global market opportunity for products and services from India.”
On his new role, Siddhartha Padam, said, “With Chesapeake I have a role which allows me to build on the expertise and knowledge built during my previous work stints, particularly the one with Infosys. It is a great opportunity to be working with the seasoned Chesapeake team and to play the role of a catalyst to many mid-market companies here in these sectors. I am looking forward keenly to the challenge.
Founded in 1987, the New York headquartered Chesapeake Group has affiliates in London and Paris. The firm has more mid-market IT services deal experience than any other advisor in the same league. The Chesapeake Group has helped a number of US and Europe-based clients establish Indian operations. The firm has global transaction expertise and has structured large format deals with buyers in the US, India and Europe. The Chesapeake Group’s current and past clients include Covansys, Zensar Technologies, Valtech, Tech Team, Sento Corporation, Softtek, Answerthink and eIndia Venture Fund among others.