Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
The company grew 90% year over year and adding the largest number of enterprise customers to date.
ORLANDO – April 23, 2013 – Kony Solutions, the leading mobile and multi-channel application platform provider, today announced that it achieved another record year in FY2013, growing 90% year over year and adding the largest number of enterprise customers to date across the financial services, healthcare, consumer packed goods, and oil & gas industries and many others. The Company also announced that cloud expert Abhay Parasnis has joined Kony as President and COO. In this role, Mr. Parasnis will lead all strategy, development, delivery, product management and overall marketing functions, overseeing the Company’s move to offer its diverse product portfolio via the cloud. He will report to Raj Koneru, Kony’s Founder and CEO.
Prior to joining Kony, Mr. Parasnis served as Senior Vice President of Oracle Cloud development. In this position, he was responsible for shaping Oracle’s overall cloud strategy, driving engineering and go-to-market strategy for Oracle’s cloud offerings as well as strategic M&A activities for the cloud business. Prior to Oracle, Mr. Parasnis spent almost a decade at Microsoft where he held various leadership positions in consumer and enterprise businesses. While at Microsoft, he helped create multiple new product lines including Windows Azure AppFabric, Live Mesh and Windows Workflow Foundation.
Previously, Mr. Parasnis was Chief Architect at i2 Technologies, a leading supply chain management vendor, where he co-founded "Rhythm Collaboration Suite", an industry-leading supply chain solution. Mr. Parasnis holds more than 25 patents spanning consumer Internet technologies to enterprise developer platforms, and has co-authored two books on Java technology.
“Abhay has a wealth of experience in growing new businesses,” said Raj Koneru, CEO of Kony.
“His expertise will be valuable in helping us take advantage of the incredible market opportunity in front of us, as we accelerate our strategy to offer solutions in the cloud and help position Kony for future growth.”
“Kony is poised to capitalize on disruptive trends in IT, particularly the intersecting growth in mobility plus a dramatic movement to the cloud,” said Abhay Parasnis. “Kony has the robust multi-channel platform to make high-quality mobile and multi-channel user experiences accessible via the cloud to companies of every size, so they can better serve their customers, employees and partners.”
According to Gartner, Inc., worldwide cloud spending will grow to $134 Billion by 2017, and mobile connections will exceed fixed connections by a factor of 7:1 globally (Gartner Webinar, IT Spending Forecast, 1Q13 Update: The Nexus of Forces, April 2, 2013).
About Kony Solutions
Kony is the industry’s leading mobile and multi-channel application platform provider. Kony develops a suite of customizable pre-built apps, the KonyOne™ Platform and a comprehensive mobile application management solution, which give companies the confidence and control to quickly build apps once and deploy everywhere -- across all mobile devices and operating systems. Kony’s customers include more than 200 Fortune 500 companies, the largest global bank, and global brands such as Hyatt, Huntington National Bank, Konica Minolta, Schweppes, Tyco and Carl Zeiss.
In 2012 Kony was named a “Visionary” in the Gartner Magic Quadrant for Mobile Application Development Platforms (MADP) report. For more information, please visit www.kony.com or connect with Kony on Twitter, Facebook and LinkedIn.
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