February 27, 2019
CoreValue joins IT Services Competence Platform
IT Services Competence Platform, a global-reach Capital Group, managed from Poland and backed by Oaktree Capital Management and Cornerstone Partners, welcomes a new member – CoreValue, a U.S. based software services provider.
Warsaw–New Jersey, February 27th, 2019 – IT Services Competence Platform has announced that CoreValue, a technology company with its HQ in the U.S. and development centers in Ukraine and Poland, joins IT Kontrakt in a global IT services outsourcing Group. The project is being managed from Poland as one of the Oaktree Capital Management and Cornerstone Partners investments.
IT Services Competence Platform has software delivery centres located in Poland, Ukraine, Malaysia and soon other delivery cost effective and quality engineering countries. Its development strategy is based on an intensive M&A program focused on acquiring companies in Western Europe, the Nordics and the USA, thus granting access to multinational clients and offering them competences, expertise, and software solutions.
“We put great expectations on our investment in IT Services Competence Platform. Its strategic value lies in offering high-quality services, expertise and top competences to global businesses. We expect a good return on this investment,” – says Przemysław Krych, Founder of Cornerstone Partners.
As a result of the transaction, the employment volume in the Group increased to over 2,400 highly qualified engineers. The merged Group will reach a new level of scale, capacity, and potential in terms of providing technological solutions to support its clients’ growth.
“Joining CoreValue to IT Services Competence Platform is a very important step for us, one bringing us closer to creating a global IT outsourcing platform. The company has proven its potential and strong technological competence by providing services to high profile clients in the highly competitive US market. Its development was recognized by the inclusion on the prestigious Software 500 List and Inc. 5000, the ranking of US companies growing fastest in 2018. Moreover, TopDevelopers.co has recently included CoreValue in the list of Top 15 Big Data Analytics Companies,” – says Tomasz Pyrak, the President of IT Kontrakt and Executive Chairman of IT Services Competence Platform.
The expertise of CoreValue includes traditional Cloud based CRM implementation services and Mobile applications to industries such as Pharmatech, Healthcare, and Finance. Customers trust CoreValue with Infrastructure services utilizing qualified and experienced staff in Data Science, Data Management, Database Services, Quality Assurance and traditional development. The customers of the company are funded startups, mid-sized and Fortune 50 through 500 companies.
“I am excited with the opportunity to support IT Services Competence Platform through its next phase of development and I am fully committed to contributing to its growth strategy. CoreValue provides its global customers with innovative, reliable, and efficient software and technology solutions. As a Salesforce® Registered Partner and a Gold Microsoft® Partner, we successfully apply proven methodologies and continue to grow, invest in our staff and services, and approach new markets,” – says Igor Kruglyak, co-founder and CEO of CoreValue and Executive Chief of Global Delivery of IT Services Competence Platform.
The investors – Oaktree Capital Management and Cornerstone Partners – started the development of IT Services Competence Platform in 2017 by taking over IT Kontrakt in Poland. Solidbrain, another Polish company, joined the project in the second half of last year, which significantly strengthened the Group’s potential in terms of operations and competence, especially in the area of handling managed services and managed capacity projects.
CoreValue is a Global Software and Technology Services company, providing Cloud based implementation services, Salesforce platform development and integration services, Data Services and Machine Learning powered solutions, and Mobile & Web application design and development services to industries such as Finance, Pharmatech, and Healthcare. CoreValue maintains quality software and consultancy services to funded startups, investors, mid-sized enterprises and Fortune 50 through 500 companies. More information at corevalue.net.
IT Kontrakt was established in 2004. The company implements IT solutions and services for business, and offers comprehensive support with building IT systems. It is a leader in the field of outsourcing IT services such as Managed Services, Nearshore/Offshore, and Information Technology Outsourcing. Its client portfolio includes companies hailing from industries including pharmacy, the automotive sector, finance, IT, and telecommunications. More information at itkontrakt.com.
Oaktree Capital Management is a leader among global investment managers specializing in alternative investments, with $124 billion in assets under management as of September 30, 2018. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 900 employees and offices in 18 cities worldwide. More information at oaktreecapital.com.
Cornerstone Partners is a private equity investment firm operating since 2001. The mutual track record of Cornerstone’s partners is proved by more than 60 company exits with an average IRR of above 35 per cent. Cornerstone invests in private equity transactions in Poland and CEE, with a focus on backing strong management teams to grow and transform their businesses. More information at cornestone.com.
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