With an aim to become a top player in data industry, a global digital consultancy s based out of Lanka, Pyxle International and Singapore-headquarted advanced data analytics and artificial intelligence products and solutions company, Trabeya Pte Ltd has reached an agreement to for a merger.
The two entities which come under the Elovate Group is a part of Bahamas-based global private equity investment firm, Tavistock Group.
Backed by synergies of the two entities, it’s planned to create a comprehensive offering with all on one platform, that delivers digital strategy planning and systems integration, data management and visualizations, and deep analytics powered by proprietary artificial intelligence tools, to enable a smooth and fully integrated customer experience to better serve business needs.
Pyxle supports business in accelerating digital transformations with its holistic assessment of their current and desired digital roadmap and digital maturity, and thereafter outlines and implements an optimal data solution with product innovation and engineering, hosting, cloud and technology operations, robotic process automation, as well as systems integration.
Meanwhile, Trabeya enables businesses to make effective decisions quickly with its data-driven machine intelligence solutions. Springboard, its cloud-based platform, seamlessly integrates plug-and-play tools, including proprietary artificial intelligence products, in to existing business workflows to achieve real-time analytics to enhance performance.
Therefore, the companies hopes to become a leader in the data industry in the aftermath of the announced merger. In particular, by capitalizing on synergies of the two entities, it aims to become a leading incubator for innovative technology and top talent in Sri Lanka and to provide accelerated growth opportunities to combined employee base.
“This strategic merger provides us with the opportunity to enter a promising new era, to leverage our combined core competencies in digital strategy as well as data analytics and artificial intelligence. We see huge potential to create a turn-key experience for our customers, which will give our employees the opportunity to have an even greater impact on the businesses that we work with” Pyxle International, Chairman and Executive Director, Presantha Jayamaha said.
Following the strategic merger, Jayamaha announced that he would step down from his role as Chairman and Executive Director of Pyxle, paving the way for younger leadership in the Group to ascend.
Further, he also announced plans his divest his stake in Pyxle to current shareholder, Tavistock Group.
Jayamaha was instrumental in building Pyxle over 17 years and played a vital role in its trajectory.
“I have led Pyxle as Founder-CEO, and then Chairman, through private equity investment, growth, and change through many cycles over the last 17 years. The opportunities before us, with this merger, are very exciting but, as for me, it is the right time to let a new team take the combined business further and release more value” he remarked.
In 2017, Pyxle entered into a partnership with the Tavistock Group launching Pyxle International with a mission to “Ignite Digital Performance” and unlock the value of organizations’ digital innovation and business transformation investments, driving sustainable growth. It has operations in North America, Europe, and Asia
Trabeya Pte Ltd is a leading advanced data analytics and AI products and services company, serving a global customer base with its operational team out of Sri Lanka. It has offices in U.S., Singapore, and Sri Lanka.