Journal-News.com

HAMILTON — VTech Holdings, a Vora Ventures acquisition firm, announced today it has entered into multi-million dollar agreements to acquire and merge two firms: Cincinnati-based Professional Data Resources and India-based Ascendum Systems.

Approximately 350 employees will be affected by the acquisition, said Vora officials.

The combined entity will operate as Ascendum Solutions and be headquartered in Blue Ash, with 10-20 employees working out of Vora Technology Park in Hamilton, said Mahendra Vora, founder of Vora Ventures.

Vora Ventures is a capital management and investment group based in Hamilton that specializes in Information Technology firms and markets. Vora Ventures is comprised of 12 IT firms and employs over 2,100 employees worldwide.

According to Vora, the new Ascendum company will offer IT solutions ranging from advanced Web technologies, Net and Java-based application development and managed services.

"Both firms fit perfectly into our plan and together form a solid platform to acquire and merge many more," Vora said. "They each bring unique strengths and have outstanding track record of customer service, solution offerings and technical expertise," he added.

Vora said Ascendum Solutions will be based in Blue Ash because the majority of the new company's employees — approximately 100 people — live in that area.

Company officials said they plan to acquire two more companies within the next few weeks and an additional two acquisitions this summer. The base of operations for Vora Ventures will remain in Hamilton, Vora said.

"This is our worldwide headquarters. We are halfway done, and have a lot to achieve, and in the end it's all going to mean a lot for Hamilton," Vora said. "Hamilton is the home of my business, and Hamilton has become my emotional home if nothing else," Vora said.

Officials from Professional Data Resources said they are pleased with the agreement with Vora Ventures.

"We looked at many different strategic options and found Vora to be the best of all, in the best interest of my customers, employees and the community," said Phyllis Adams, founder and CEO of PDR. "This really takes PDR to the next level of scalability, adds tremendous new solutions and provides a global reach," she added.

Contact this reporter at (513) 705-2843 or jlander@coxohio.com.