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STG Acquires Cloud-Based Solution Provider Eka Software

Eka Founder and CEO, Manav Garg, will continue as a board advisor of the combined entity.

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.

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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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