VedaCorp advises Data Patterns, a pioneering Defence Electronics company, in Series C investment by FlorinTree Capital Partners

Industrials

DATE June, 2021

TYPE Private Equity

About

Data Patterns

Data Patterns (India) Pvt Ltd is a pioneering Defence Electronics company founded by S.Rangarajan and Rekha Rangrajan. Headquartered out of Chennai with a design and development team of over 400 engineers, the company offers a wide range of technology solutions to the Indian Defence and Space Industries. Its expanding portfolio included Electronics Warfare, radars, communication systems, Avionics and Fire Control Systems. Its key customers include Indian Defence Establishments, Public sector companies in Defence, ISRO, MNC’s Honeywell, Raefel, Elbit Systems.

Florintree Capital Partners

Florintree Capital Partners is a Mumbai based Alternate Asset Management Company founded by Mathew Cyriac, who was earlier the Senior Managing Director at the Blackstone Group and served as co head Private Equity at Blackstone Advisors India Pvt Ltd. Florintree’s portfolio included recently listed MTAR Technologies which had a stellar IPO.

Background

We are pleased to announce that Florintree Capital Partners, founded by Mathew Cyriac, Ex Senior MD of Blackstone Group, has acquired significant minority stake in India’s pioneering Defence Electronics Company, Data Patterns (India) Pvt Ltd through a secondary purchase of Equity Shares from Oman India Joint Investment Funds (OIJIF). Veda Corporate Advisors was the exclusive Advisor to this transaction.

Data Patterns, founded by S.Rangarajan and Rekha Rangarajan, headquartered out of Chennai, is a unique home grown Defence Electronics company offering a wide range of indigenous technology solutions to the Indian Defence and Space Industries. With strong inhouse design capabilities, Data Patterns offers a wide range of products and solutions in Electronic Warfare, Radars, Avionics, Satellite systems and Fire control systems.

With the Government’s increased thrust on indigenous technology and increased private sector participation, the $5 Billion Defence Electronics market in India is all set for a quantum leap and Data Patterns, with a combination of deep domain knowledge and cutting edge technology solutions is best placed to capture a significant market share.

This marks VedaCorp’s 3rd transaction for Data Patterns, including two exits for Venture/Private Equity Funds and reaffirms our track record as the ‘Lifecycle Banker’ who is “ Trusted. Time and Again”