STG Acquires Eka Software: CTRM Solutions Merger
By Rediff Money Desk, NEWDELHI Apr 08, 2024 15:28
US-based STG acquires Eka Software Solutions, merging it with Quor Group to create a comprehensive CTRM software suite for commodities trading and risk management.
New Delhi, Apr 8 (PTI) US-based equity firm STG on Monday said it has acquired Eka Software Solutions and will merge the latter with its portfolio company, the Quor Group, to provide a broad software suite.
Bengaluru-based Eka provides commodities trade and risk management (CTRM) and supply chain solutions with a specialty in the soft agricultural and energies markets, whereas Quor specialises in CTRM offerings within the metals ecosystem.
"The combination of Eka and Quor is a material step forward for the CTRM industry, providing a broad software suite that addresses a spectrum of customer needs across asset classes globally," the company said in a statement.
Eka Founder and CEO, Manav Garg, will continue as a board advisor of the combined entity, it added.
"The merger could not happen at a more opportune time - we have seen increased volatility across asset classes, greater desire of customers to hedge their risk, and substantial supply chain disruption; all of which leaves the market yearning for solutions from Eka and Quor," Garg said.
Bengaluru-based Eka provides commodities trade and risk management (CTRM) and supply chain solutions with a specialty in the soft agricultural and energies markets, whereas Quor specialises in CTRM offerings within the metals ecosystem.
"The combination of Eka and Quor is a material step forward for the CTRM industry, providing a broad software suite that addresses a spectrum of customer needs across asset classes globally," the company said in a statement.
Eka Founder and CEO, Manav Garg, will continue as a board advisor of the combined entity, it added.
"The merger could not happen at a more opportune time - we have seen increased volatility across asset classes, greater desire of customers to hedge their risk, and substantial supply chain disruption; all of which leaves the market yearning for solutions from Eka and Quor," Garg said.
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