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February 15th, 2022
Ceinsys Tech appoints Prashant Kamat as CEO and Vice Chairman of the board to lead foray into the international markets

Mumbai –  Feb 2022: Ceinsys Tech Limited (a company listed on Bombay Stock Exchange), has acquired a 100% stake in AllyGrow Technologies. Subsequent to this announcement, Mr. Prashant Kamat has been appointed as CEO & Vice Chairman of the board at Ceinsys. Mr. Kamat is an industry veteran formerly associated with Mahindra Engineering Services & AllyGrow Technologies in the capacity of CEO.

From the market perspective, the global GIS market is estimated to grow at CAGR of 16.15% with a Revenue of USD 9.76 bn during the forecast period 2021-2025. The “YOY (year-over-year) growth rate is estimated at 15.33%” by 2025.

At a global level, the booming Geospatial Industry along with Digital trends presents immense potential for tech-based GIS solutions. Eyeing its access to global markets, Ceinsys made the strategic move of investing in AllyGrow. Further, to realize the vision of transforming Ceinsys into a global brand, the appointment of Mr. Kamat is announced. As Prashant moves into the role of CEO at Ceinsys, Mr. Vishal Pawar will assume the role of CEO at AllyGrow Technologies.

Commenting on the occasion, Mr. Sagar Meghe, a philanthropist, Non-Executive Director, and Chairman, Ceinsys, said: “My focus has always been to build a conducive environment for talented young engineers to learn and grow professionally. This merger ensures a platform for Ceinsys and its talent pool, to offer its services globally. I am looking forward to Prashant taking this entity to new heights” 

 

Mr. Prashant Kamat, Chief Executive Officer, Ceinsys said, “Ceinsys has developed technical expertise and gained rich experience through the execution of various projects over past two decades. This has a huge potential in the international market. It gives me immense pleasure to take on this responsibility that the group has conferred upon me.” 

Ceinsys specializes in geospatial, engineering, and IT solutions and is a part of the large conglomerate Meghe Group of institutions. Over the last two decades, it has focused on offering technology solutions in the Water, Transportation, Telecom, Energy, IT & GIS domains in all critical infrastructure development projects of the country and has contributed to different sectors of the Indian economy.

AllyGrow is a technology-driven, pure-play engineering services company that specializes in building successful strategic partnerships globally. The company has carved itself a distinct recognition in the Product Design and Robotics automation (Manufacturing Engineering) services space in the US, Europe, and India regions. It holds rich experience in executing projects from concept to the product launch phase for marquee clients such as General Motors, Caterpillar Inc., Grammer Gmbh, etc.