News Date Friday, May 6, 2016

Global Open Source Solutions Provider Signs a Definitive Investment Agreement with Next Generation Data Lake Solutions Company

Chicago, Michigan: USA, Ahmedabad, India: April 6, 2016 - CIGNEX Datamatics, The Silicon Valley based global leader in Open Source solutions, announced today that it has signed a definitive investment agreement  with  Elevondata, a next generation global data services and solutions company. CIGNEX Datamatics is strengthening and expanding its portfolio of open and scalable global offerings.  The investment will allow an expansion of innovative products and service offerings at the intersection of data and content management. Elevondata uses principles of Big Data, Open Source, and Cloud along with traditional enterprise data integration & warehousing skills to provide faster and cost effective data solutions.

“Elevondata joins CIGNEX Datamatics at a tipping point in the industry, where enterprises now realize that they cannot address their increasingly complex data management needs without innovation”, says Vidur V. Bhogilal, Chairman, CIGNEX Datamatics. “We are excited with Elevondata’s inclusion into CIGNEX Datamatics’ family, and look forward to helping our clients tackle the complexities of the digital enterprise, leveraging the expertise and solutions of  Elevondata”.

“We are thrilled to be part of a company which has understood the disruptive value of Open Source and orchestrating structured and unstructured content together since its inception”, says Vin Siegfried, CEO, Elevondata. “With CIGNEX Datamatics expertise, we can now extend our reach to more clients and offer more comprehensive solutions, together. Data lakes for financial services, Intelligence management for compliance, Customer/patient engagement powered by Big Data sciences and Risk management analytics with advanced predictive models are just a few examples of areas where we are expecting to be able to make a broader impact”.

With this investment, CIGNEX Datamatics also announced the appointment of Sanjiv Tandon, to its Board of Directors. Sanjiv Tandon, a proven leader in the IT consulting and outsourcing, was most recently the Chairman of Elevondata, and in the past has shaped large scale operations across the world for TCS, Xansa plc and IBM.