In a recent interview on NewsX A-List, Sanjay Ghare, the CEO of Vervotech, a prominent player in the travel technology sector, delved into the company’s acquisition by CSI and discussed its strategic vision moving forward. With over 15 years of experience in the travel and accommodation industry and recognized as a key influencer, Sanjay Ghare’s insights shed light on the company’s journey, its motivations for the acquisition, and its future prospects. In an exclusive interview, Sanjay Ghare shares insights on Vervotech’s acquisition, its impact, and future growth strategies.
Vervotech’s Acquisition by CSI
Vervotech, a global leader in accommodation content standardization, made headlines when it was acquired by CSI, the world’s eighth-largest software company. When asked about the motivation behind the acquisition, Sanjay Ghare explained, “First is the benefits we are getting through this acquisition, the strategic benefit, because CSI is a world-renowned software company with over 1000 software companies in its portfolio.
We have a lot more to collaborate and gain from the acquirer. And second is the operating model. Vervotech will remain an independent entity without any changes in the brand or operations.”
Integration and Future Growth
Sanjay Ghare clarified that Vervotech would continue its operations independently, both in terms of products and branding. However, he highlighted the seamless integration with the Juniper Group, CSI’s conglomerate of key travel tech companies, which will allow customers to access Vervotech’s services with ease. Regarding the cultural fit between Vervotech and CSI, Ghare emphasized that CSI operates on the basis of KPIs and financial metrics, allowing Vervotech to maintain its unique culture and strategies.
Long-Term Goals within CSI Ecosystem
Sanjay Ghare shared Vervotech’s two primary goals within the CSI ecosystem. Firstly, he expressed the company’s ambition to become the most preferred option in its field, aiming for Vervotech to be the go-to choice, akin to the iPhone in the smartphone market.
Secondly, he revealed that Vervotech, as part of CSI’s strategy, plans to acquire additional companies in the travel technology sector, with a particular focus on India and Asia, aligning with CSI’s strategic interests in the region.
Key Lessons Learned and Advice for Start-Ups
Reflecting on Vervotech’s journey and acquisition, Ghare offered valuable insights. He suggested that Start-Ups should focus on their company’s value proposition and strategic benefits beyond financial valuation during acquisition negotiations. Ghare also stressed the importance of having a clear understanding of company goals and the ability to adapt during the acquisition process.
Customer and Stakeholder Response to Acquisition
While shareholders have expressed satisfaction with the acquisition, customers have raised queries regarding potential operational changes. Sanjay Ghare reassured customers that there would be no operational alterations and that Vervotech would continue to operate independently.
Personal Impact and Takeaways from the Acquisition
Finally, when asked about the personal impact of the acquisition, Ghare noted that it had bolstered his confidence and provided substantial support. He also emphasized the pivotal role of the team, expressing his pride in Vervotech’s dedicated and capable personnel.
In conclusion, Vervotech’s acquisition by CSI marks a significant milestone in its journey. Sanjay Ghare’s insightful remarks shed light on the company’s motivations, integration plans, and future goals, providing a glimpse into the dynamic landscape of the travel technology industry.