Alantra advised on the acquisition of Bask Technology by Nanoheal
SECTORTechnology
ServiceM&A
Alantra is pleased to announce that Nanoheal has acquired Bask Technology, Inc., a Utah-based provider of home and SMB technical support services. The transaction closed on September 25, 2017.
Based in Lehi, UT, Bask Technology offers technical support services to Consumers and SMBs covering computers, tablets, smartphones, and many other technology devices that connect to the internet. Bask offers all U.S.-Support and employs a team of technology advisors and member care specialists available 24/7 to diagnose and fix technical support issues. The company also offers online identity protection, cloud-based data backup, antivirus software, proactive maintenance, and remote support via a secure computer connection.
Nanoheal provides predictive device management software for technology support providers, SMBs and IT helpdesk operations of large OEMs. The company is headquartered in Utah. Nanoheal’s SaaS platform, enabled by real-time analytics, automates the resolution of technology support issues for all kinds of smart devices, helping reduce the volume of calls/issues handled by helpdesk service providers. This transaction will increase Nanoheal’s presence in the B2C and SMB technology support business.
Commenting on this transaction, Sridhar Santhanam, CEO of Nanoheal, said, “This transaction will enable Nanoheal to provide faster, more efficient and cost-effective customer support by using the predictive technology of Nanoheal and the professional services of Bask, producing solutions for consumers, SMB’s and Service Providers. Nanoheal’s solution will also enable Bask to extend its support capabilities beyond computers and mobile devices to Home and Business IoT (Internet of Things). Alantra has been a strong partner to Nanoheal in executing on our vision and we were impressed by the diligence, focus and speed of execution that Shirish and his team provided for this transaction.”
“We are delighted to have partnered with Nanoheal on this transaction,” said Shirish Nimgaonkar, Managing Director at Alantra. “Analytics and business process management are significant areas of focus for Alantra and this transaction further strengthens our track record in these important markets.”
This is Alantra’s second transaction in as many months in the Analytics segment and for its rapidly expanding technology practice. The first was advising Mahindra Comviva on its acquisition of Emagine Technologies, a mobile campaign management and customer loyalty software provider based in Australia.
