BrazilEquiteq advises Just Analytics on sale to global player Rackspace
Working together with strategy and merger & acquisition advisors from Equiteq, Just Analytics has closed a deal with global cloud group Rackspace Technology.
Based in Singapore, Just Analytics is an award-winning technology consultancy specialised in advanced analytics, big data and artificial intelligence. The firm builds its offerings on the Microsoft cloud technology stack (Azure) and also has its own data analytics platform (Guzzle) listed on Microsoft Azure Marketplace.
Since its founding in 2011, Just Analytics has grown into a team of over 100 professionals working from offices in Singapore (headquarters), Vietnam and India.
Over the past years, experts from Equiteq helped Just Analytics’ shareholders with shaping and realising its growth strategy. Reflecting on the collaboration, Sylvaine Masson, Director of Equiteq in APAC, said: “It has been a great pleasure working with the Just Analytics team during their growth journey.”
“We have been very impressed by how Just Analytics has developed its business over the past couple of years, unwaveringly following key strategic recommendations, under the leadership of an outstanding management team, resulting in the emergence of a clear leader in the cloud and data analytics space in the APAC region.”
With the fundament in place, last year Just Analytics’ shareholders worked with Equiteq on preparing the firm for its next phase. This included a potential sale to a financial or strategic investor. When Rackspace Technology (a cloud specialist with 6,600 employees globally) entered the scene, both parties were convinced the deal was the right one to pursue.
Hemanta Banerjee, the founder of Just Analytics, explained: “By combining our capabilities with Rackspace Technology’s global presence, resources, and scale, we can shift our focus to solely growing our existing business while Rackspace Technology integrates business functions to help us grow.”
Meanwhile, the deal team found during the due diligence phase that both companies “share a similar culture” defined by “fanatical customer service” and “strong relationships with key partners based on capabilities, culture and execution”.
Having successfully closed the deal on January 18, 2022, Banerjee looks back positively at the collaboration with Equiteq. “Their team has consistently and efficiently supported us throughout the process, from the initial preparation to the successful completion of the transaction. Their deep understanding of our business and industry and their commitment to finding the right acquirer and achieving the best possible outcome for Just Analytics have been essential to this achievement.”
Financial terms of the deal have not been disclosed. Just Analytics will continue to operate for the “foreseeable future” under its own brand.
Meanwhile, for US-headquartered Rackspace Technology, the bolt-on expands its presence in Asia Pacific and deepens its expertise in the Azure scene. “Just Analytics gives us capability, management, and technical expertise to claim the Azure landscape in a much more holistic manner,” said Sandeep Bhargava, Managing Director Asia Pacific and Japan at Rackspace Technology.
