New York, USA: Technology services focused investment platform Recognize has made a strategic investment in AST Corporation. Based in Pune, India, AST is an enterprise systems integrator.
This investment from Recognize will enable AST to push its efforts in innovation, expand its global delivery footprint and solution offering to clients. However, AST has not disclosed the actual funds it received as part of this investment.
“AST has built a strong foundation with an award-winning culture focused on leveraging cloud technology in our core Oracle and Salesforce ecosystems to deliver value-based outcomes for our customers,” said Justin Winter, CEO – AST.
“As we look at the next chapter, we are excited about the partnership with Recognize, which will accelerate our efforts in building a differentiated, purposeful digital transformation solutions provider,” added Winter.
With over 750 team members globally, the Pune based company is among trusted services partners to Oracle, Salesforce and other technology vendors.
“We are excited to work alongside Justin and his team to help AST continue to build on its already strong track record,” said Charles Phillips, Recognize Co-founder and ex-President of Oracle.
“AST is well positioned to capitalize on Oracle’s maturing cloud service and customers now have a clear path toward meaningful digital transformation,” added Phillips.
“We are deeply impressed by the company that Justin and his team have built,” said David Wasserman, Co-Founder and Managing Partner – Recognize.
“AST’s leadership position across its core end markets, differentiated focus on best-in-class service capabilities and industry-leading culture made us excited to partner with the team as they continue scaling the business,” added Wasserman.
As part of this strategic investment Recognize Co-Founder, Charles Phillips will join the AST’s Board of Directors as Chairman.
Besides Phillips, fellow Recognize Co-founder David Wasserman and Recognize partner Mike Grady are all set to join the AST board.
This is the fourth platform investment for Recognize as it continues to deploy capital from its flagship fund.
Willkie Farr & Gallagher acted as legal advisors to Recognize. Guggenheim Securities, LLC and Harris Williams acted as financial advisors to AST and Davis Polk & Wardwell acted as legal advisors.