CubeMatch acquires Indian software firm to expand consultancy service

24 Oct 2022

CubeMatch CEO Tom Melville and CFO Jacob Koshy. Image: CubeMatch

CubeMatch is looking to boost its capabilities in project delivery, development and testing with the acquisition of Chennai-based Claritaz.

Irish consultancy firm CubeMatch is acquiring Indian software development company Claritaz Techlabs to enhance its services and expand its global operations.

Based in Chennai, Claritaz has a team of more than 60 people working to provide agile software development, digital transformation and managed services to clients in India and abroad.

Once completed, the acquisition will see Claritaz’s management team remain in place while the company rebrands to CubeMatch-Claritaz. Existing clients are not expected to experience any change in service.

The acquisition is set to enhance CubeMatch’s current capabilities in project delivery, development and testing. It will also strengthen its offshoring and managed service capability.

Tom Melville, CEO of CubeMatch, said that the “hugely exciting” acquisition is in line with his company’s ambitious growth strategy. Financial details of the deal were not disclosed.

“We believe that Claritaz will be a great fit for CubeMatch’s clients as we enhance our service offering and suite of business solutions,” he said.

“Clients are increasingly seeking guidance on how to innovate and transform their business models. Unlocking ingenuity and making change happen at an ever-increasing pace is critical to how we service our clients.”

CubeMatch’s consultancy business specialises in financial services and global transformation. It has operations in Dublin, Amsterdam, London, Frankfurt, Singapore and Chennai.

In February, the company announced plans to create 50 new jobs internationally after establishing its new European head office in Dublin’s Capel Building. With its new HQ, CubeWatch said it aimed to establish a management decision-making centre in Europe.

“Dublin is a strategic hub for our European business, and our new office will give us space to grow while keeping us close to our European customers,” Melville said at the time. “It is also central to CubeMatch leading business and digital transformation while building our international hub to serve our customers worldwide.”

CubeMatch’s clients include major financial institutions such as Bank of Ireland, AIB, Ulster Bank, Rabo Bank, Commerzbank, Deutsche Bank, NatWest, BNP Paribas, Mizuho and UBS.

“Claritaz has consistently provided top software development, testing and managed services to our clients,” said Mohan Thilak, CEO of Claritaz.

“We’re thrilled to take our team to the next level by joining CubeMatch. We not only share a commitment to quality, but we also share a strongly aligned value set that will strengthen this combined team.”

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Vish Gain is a journalist with Silicon Republic