Housatonic Partners, a growth-oriented private equity firm focused on investing in recurring services companies, today announced a strategic growth investment in Veridic Solutions (“Veridic”), a leading cloud and digital transformation services company.
Founded by Devender Aerrabolu in 2016, Veridic delivers custom cloud and digital transformation services for customers across a wide range of industries, including financial services, technology, and healthcare. Over the last five years, the company has experienced strong growth and developed into a leader in the cloud services industry. Customers consistently choose to work with Veridic because of the company’s reliability and quality of software engineers, who are highly trained and certified by Amazon Web Services and other cloud services platforms.
“I am very pleased with the new partnership with Housatonic Partners and Pracinco. It will create value to our customers and employees and will contribute to significant growth in both the immediate and long-term future for Veridic,” said Devender Aerrabolu, who will continue to be involved with the company.
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Vikas Aditya, an executive with extensive experience in the cloud and digital transformation services industry, will join the company as Chief Executive Officer. Aditya formerly served as Chief Strategy and Operating Officer of AccionLabs, a digital-focused software product engineering company owned by TA Associates. “I am looking forward to the opportunity to lead the exceptionally talented Veridic team,” said incoming Veridic CEO Vikas Aditya. “Housatonic and Pracinco are the ideal partners for Veridic because they share the same customer-centric approach and emphasis on employee empowerment.”
Housatonic Partners Managing Director Joe Niehaus, who has joined the Veridic Board of Directors, added, “We are excited by Veridic’s emerging leadership in cloud services and deep bench of qualified engineers. We look forward to working with Vikas in the company’s next phase of growth.”
