STG, a US-based private equity firm specializing in software and software-enabled tech services enterprises, has announced the tactical acquisition of Eka Software Solutions. Eka has been acknowledged as a global provider of commodity management solutions that prioritizes soft ags and energy markets. For two decades, Eka successfully implemented commodities trade and risk management (CTRM) and supply chain solutions, while building a robust and modern vertical SaaS platform.
In a significant move for the CTRM industry, STG will merge Eka with the Quor Group, an existing STG portfolio company focusing on CTRM offerings within the metals ecosystem. This combination creates a powerful software suite that caters to a wide range of customer needs across various asset classes globally.
Eka’s innovative approach and cutting-edge technology will enhance Quor’s ability to navigate the complexities of commodity markets. This includes addressing increasing end market volatility and meeting customers’ desire to hedge their risk profiles. Together, Quor and Eka are poised to accelerate innovation and set new benchmarks within the industry.
William Chisholm, the Managing Partner of STG, expressed his admiration for the comprehensive and robust product offerings within the Eka platform. He highlighted that, “We have been extremely impressed by the breadth and depth of the products that make up the Eka platform. Their CTRM / ETRM and supply chain products have consistently delivered for their impressive customer base.”
Ishan Manaktala, the Operating Partner at STG, also emphasized their commitment to supporting both Quor and Eka and stated, “We are committed to supporting Quor and Eka through further investments in innovation with the ultimate goal of continuing to provide exceptional value to their clients.”
Manav Garg, the founder and CEO of Eka mentioned this, “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.”
Steve Hughes, CEO of Quor shared his thoughts on this merger, “I believe joining forces with Eka is a game-changer for us and our customers. I am keen to partner with Manav and his decades of knowledge to drive the CTRM industry forward into a new era of growth and success.”