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, 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.
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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.”
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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.”