KOCHI: In a boost to the state's startup mission, the US-based NetObjex Inc on Tuesday announced its acquisition of Serventire Global, a year-old blockchain solutions provider company based at Technopark, Thiruvananthapuram.
All 20 employees of Serventire Global will be absorbed by the parent company, which will be focussing on expanding its India operations NetObjex is a California-based company with technology that leverages AI, blockchain and Intenet of Things (IoT). The company has operations in North America and has offices in India and South East Asia and partners and representatives in West Asia and Latin American countries. The company has a customer base spread across four continents.
Serventire Global is a blockchain solutions company with a trade finance product and real-time payment solution in the fintech space, besides expertise in blockchain protocol development. Raghu Bala, Chief Executive Officer, NetObjex, said: "We are proud to announce our acquisition of Serventire Global. This is coming together of two companies with complementary skills, technologies and culture. We now have a very strong product offering that binds three key technologies (IoT, AI and Blockchain) and a broad set of customer implementations of the platform across multiple domains and geographies."
Georgey Jacob, chief executive officer of Serventire Global, said: We are very excited to join the NetObjex family and this acquisition provides us with a platform to accomplish bigger goals with a broader reach. The market for distributed ledger technology is growing rapidly and we believe the combined entity is a formidable global player." NetObjex will now have blockchain-based offerings in multiple verticals, including R&D, enterprise-grade solutions and middleware developments.