Spatial Access

Spatial Access launches new logo, SBUs; brings aboard new investor

Afaqs

The company’s three new SBUs are the media and analytics vertical, headed by Nikhil Rangnekar; the marketing services vertical, headed by Geetanjali Bhattacharji; and the media and international vertical, headed by Harsha Joshi.

On the occasion of its eighth birthday, Spatial Access, the first Indian transnational in the audit and advisory space, made three important announcements. Firstly, the company has brought on board a new investor; secondly, it has rolled out a new corporate identity and logo; and thirdly, it has structured its services into three well-defined SBUs.

The new investor, who has recently picked up a significant stake in the company, is Pavan Sukhdev, former investment banker, Deutsch Bank. So far, the two primary investors in the business have been majority shareholders Meenakshi Madhvani, founder and chairperson, Spatial Access; and her technology partner, Prof. Claudio Conti, who owned almost 25 per cent of the company. Additionally, key senior members of the management staff also own stakes in the company.

Since Conti chose to disinvest and cash out, he sold part of his equity to Sukhdev. So, while Madhvani continues to be the largest shareholder in the company, Conti’s 25 per cent is now split between Conti and Sukhdev such that each has a sizable stake.

Addressing this development, Madhvani tells afaqs! that Sukhdev has come on board as a ‘strategic investor’. “Being a highly regarded former investment banker, Sukhdev will now help us unlock the value that we have created. It is very easy for people like us to build a business and very difficult to actually manage money markets and finances, and unlock value,” she says.

It may be noted that as part of the next phase of operations, Spatial Access has launched its services in Indonesia and Thailand, and plans to expand to other markets soon.