M&A Deal Summary

Elevation Capital Acquires Movate

On January 1, 2006, venture capital firm Elevation Capital acquired information technology company Movate for 23M USD

Acquisition Highlights
  • This is Elevation Capital’s 2nd transaction in the Information Technology sector.
  • This is Elevation Capital’s largest (disclosed) transaction.
  • This is Elevation Capital’s 2nd transaction in the United States.
  • This is Elevation Capital’s 1st transaction in Texas.
Investment Fate
  • Movate was sold to a consortium of buyers in 2013 for 270M USD.

M&A Deal Summary
Date 2006-01-01
Target Movate
Sector Information Technology
Buyer(s) Elevation Capital
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 23M USD

Target

Movate

Plano, Texas, United States
Movate is a global technology consulting and support company. With more than 140 clients and 5500 professionals, Movate delivers on customers' need to transform technology-driven business processes. Movate’s mission is to have “100% reference-able customers”, and delivers services across technology support, remote infrastructure management, virtualization, and mobility from 13 locations globally. Movate was founded in 1996 and is based in Plano, Texas.

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Buyer(S) 1

Buyer

Elevation Capital

Gurgaon, India

Investor Investor Investor Investor Investor

Category Venture Capital Firm
Founded 2002
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Elevation Capital is a private investment firm focused on growth capital investments in Indian companies. The Firm will consider opportunities at all growth-oriented stages. Sectors of interest include information technology, internet, mobile, consumer products, consumer services, healthcare, clean technolgy, education, agriculture, financial services, and manufacturing. Elevation Capital was formed in 2002 and is based in Gurgaon, India.

DEAL STATS #
Overall 2 of 17
Sector (Information Technology) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 1 of 4
State (Texas) 1 of 1
Country (United States) 2 of 2
Year (2006) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-05-01 Intelligroup

Princeton, New Jersey, United States

Intelligroup Inc. is a enterprise resource planning implementers in the U.S. and provides a wide range of information technology solutions and services, including the development, integration, implementation, hosting and full lifecycle support of e-commerce and enterprise applications to companies of all sizes.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-12 Paytm

Noida, India

Paytm is a Mobile Value Added Service company through its mobile content, messaging, commerce services, and made-to-order network applications, it offers new revenue streams to telecom operators. Working closely with service providers and enterprises, the company offers customer lifecycle management and mobile marketing to enhance profitability. Paytm is based in Noida, India.

Buy -
Mergr

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