Spark Financial Holdings ("Spark") acted as the exclusive financial advisor to Mobiveil and its Shareholders on its acquisition by GlobalLogic.
We are pleased to announce the signing of a definitive agreement for the sale of 100% equity stake in Mobiveil, a specialized embedded engineering services firm headquartered in the United States.
Founded in 2012, Mobiveil is a fast-growing technology company with 400+ professionals, that offers semiconductor engineering services, silicon intellectual property and application platforms. It is an expert in ASIC and FPGA design & verification, system-level engineering, embedded software and SoC services. Mobiveil has operations across the US and India.
GlobalLogic is a leader in digital product engineering services and helps brands design and build innovative products, platforms, and digital experiences. GlobalLogic is a Hitachi Group Company and operates design studios and engineering centers around the world, extending its deep expertise to customers in the automotive, communications, financial services, healthcare and life sciences, manufacturing, media and entertainment, semiconductor, and technology industries.
Ravi Thummarukudy and Gopa Periyadan, Co-Founders of Mobiveil said, "We are happy to join forces with GlobalLogic, a highly respected name in Digital Engineering and a part of the Hitachi Group. This acquisition offers Mobiveil the opportunity to become part of GlobalLogic's unique culture, and to expand our capabilities and collaborate on new, innovative projects. We look forward to leveraging this partnership to deliver cutting-edge solutions and elevate our industry impact. We would also like to sincerely thank Spark team for supporting us throughout this entire journey; it has been a pleasure working with them, and we truly value their subject matter expertise, domain knowledge, and dedicated involvement in every step of this deal."
Vijay Radhakrishnan, Managing Director & Practice Head - Technology & Business Services, Spark Financial Holdings said, "Mobiveil has deep-domain expertise and is uniquely positioned as a services company with niche IP design blocks. They have built strong and entrenched relationships with marquee clientele. We believe that synergies from this combination of Mobiveil & GlobalLogic would bring state-of-the-art product development capabilities and deliver innovative engineering solutions for their global client base. We wish Mobiveil & GlobalLogic teams all the best for the future."
This marks Spark's 58th transaction in the Technology Services space and further adds to its rich track record of cross-border transactions, aggregating to ~USD 4.2 Bn in value across Technology Services. This transaction cements Spark's position and strong track record in the semiconductor technology sector.