Atlanta-based OvalEdge, a data catalog company, has been acquired by another local company: FutureTech Holding Company, a firm with strategic holdings in the financial, technology and healthcare sectors.
Launched in 2013, OvalEdge is headquartered in Peachtree Corners and has a presence at Tech Alpharetta, a commission geared to support tech companies in Alpharetta. The company virtually centralizes all a company's data into a single catalog, enabling users to quickly find data files, tables, social media content and other company data, according to a news release. It doesn't appear that OvalEdge has raised any venture capital funding.
"We are excited to join FTH. The investment will let us build additional feature sets and expand our delivery capabilities in the US and abroad," Sharad Varshney, OvalEdge CEO, said in a statement.
Varshney will continue as OvalEdge's CEO. FTH was established in 2005 and is also based in Peachtree Corners. It acquired OvalEdge through its subsidiary, Accscient, in partnership with Alaris USA, Inc., according to a news release.
"We are very impressed with OvalEdge's delivery potential in the enterprise sector and ability to find new customers organically," Sravan Vellanki, chairman and CEO of FTH, said in a statement. "OvalEdge is the new addition to FTH family as a data company. With OvalEdge, we would be able to serve our customers in the big data sector. We are very excited to bring the OvalEdge team into our family."
