San Diego, February 14, 2022 – NewRocket, a technology strategy, design, and operations provider and ServiceNow Elite Partner, today announced that it will enhance its global footprint and capabilities with the acquisition of Service Stack Technologies (Service Stack" or "the Company"), also an Elite Partner for ServiceNow. Service Stack provides consulting and delivery services and solutions across IT Workflows, Customer Workflows, Employee Workflows, and Digital Transformation. Terms of the deal were not disclosed. NewRocket is a portfolio company of Gryphon Investors ("Gryphon"), a leading middle-market private equity firm.
Based in Pune, Maharashtra, India, Service Stack is in a fast-growing region for ServiceNow, and the company brings a broad solution-set that simplifies work for clients and improves utilization of the Now platform. With its global location and expertise across a comprehensive landscape of offerings, including AI Ops, Digital Transformation and IT, Customer, and Employee Workflows, this acquisition brings highly complementary expertise to NewRocket and will fuel global growth and expand delivery capability.
Gabe Stephenson, Managing Director within the Business Services Group at Gryphon, said, "Service Stack Technologies is NewRocket's fifth acquisition in eight months as it continues to aggressively scale the business and accelerate impact for clients worldwide. By adding another ServiceNow Elite Partner with global capability and the proven ability to sell to and retain blue-chip clients, NewRocket is in a truly differentiated position to service more customers in more sectors as the world's leading ServiceNow firm."
NewRocket plans to leverage the growing team of talented Service Stack advisors, consultants, and developers to scale its global delivery capabilities and enable more clients to fully leverage the power of the Now platform, driving more growth within Europe and Asia. The company will unify Service Stack Technologies under the NewRocket name and brand. As part of the transaction, Service Stack founding directors Mukul Kant Sharma and Vipin Kumar will join the NewRocket team in key leadership roles.
Matt Stoyka, NewRocket CEO, said, "We are delighted to welcome Mukul, Vipin, and the entire Service Stack team to our NewRocket crew. Our teams have a long history of working together. The Service Stack consultants are recognized for their expertise in solving complex technical challenges and for their deep platform knowledge that together creates outstanding solutions for clients, as demonstrated by leading satisfaction scores. Together, we are on a mission to go beyond to deliver meaningful experiences and extraordinary results with ServiceNow."
Mr. Sharma said, "This is the perfect time to partner with NewRocket and to embark on this journey together. We have a rich base of customers that we service across the landscape of offerings on the ServiceNow platform, and our CSAT score is an impressive 5 out of 5. This partnership brings together our teams with their strong technical and functional expertise to provide a wider range of solutions and services to the market."
Mr. Kumar added, "With our long-standing working relationship with NewRocket, we are excited to bring the teams together to work as one crew. Service Stack's deep knowledge and expertise in AIOps, BFSI, Digital Transformation, and Platform with NewRocket's pedigree and portfolio is an elite power combination. We look forward to growing the business, providing new opportunities for our teams, and amplifying our presence in India and globally."
About Service Stack Technologies
Founded in 2015 and headquartered in Pune, Maharashtra, India, Service Stack is recognized as a ServiceNow Elite Partner, offering solutions across IT Workflows, Customer Workflows, Employee Workflows, and Digital Transformation. The company brings together a broad solution-set of products and production capabilities with an emphasis on simplifying work for clients and improving utilization of the Now platform. Service Stack is positioned as a key player in the ServiceNow ecosystem, with proven experience across a broad spectrum of industries including financial services, energy, engineering and manufacturing, and telecommunications. It is recognized by its base of global Fortune 500 clients for delivering an outstanding customer experience. For more information, please visit https://www.servicestack.io.
NewRocket delivers meaningful experiences and extraordinary results with ServiceNow. We go beyond to deliver a resilient, connected, and transformed enterprise, where employees flourish, companies thrive, and people matter. We bring innovative and creative solutions to over 1,000 customers around the globe in Financial Services, Healthcare, Government, Insurance, and Technology companies. NewRocket has delivered over 4000 successful projects through world-class implementations and integrated solutions across the entire ServiceNow platform. For more information, please visit www.newrocket.com.
About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $7.5 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with enterprise values ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.