STG Strengthens Quor’s CTRM Capabilities through Acquisition of Eka Software

India, 8^thApril, 2024:STG, a US-based private equity firm focused on software and software-enabled tech services companies, announces the strategic acquisition of Eka Software Solutions (“Eka”), a global provider of commodity managementsolutions with a specialty in the soft ags and energies markets. For nearly two decades, Eka has been providing commodities trade and risk management (“CTRM”) and supply chain solutions, consistently delivering innovation to its customers while building a robust and modern vertical SaaS platform.

STG will merge Eka with the Quor Group (“Quor”), an existing STG portfolio company that specializes in CTRMofferings within the metals ecosystem. The combination of Eka and Quor is a material step forward for the CTRM industry,providing a broadsoftware suite that addresses a spectrum of customer needs across asset classes globally.

Eka, leveraging its innovative approach and cutting-edge technology, joins Quorto provide the combined entity’s customers with a broad ability to navigate the complexities of the commodity markets, including increasing end market volatility and customers’ desire to hedge their corresponding risk profile. Together, Quor and Eka are poised to address customers’ greatest needs, accelerate innovation, and set new benchmarks within the industry.

“We have been extremely impressed by the breadth and depth of theproducts that make up the Eka platform. Their CTRM / ETRM and supply chain products have consistently delivered for their impressive customer base”said William Chisholm, Managing Partner of STG. “We are committed to supporting Quor and Eka through further investments in innovationwith the ultimate goal of continuing to provide exceptional value to their clients,” added Ishan Manaktala, Operating Partner at STG.

Manav Garg, founder and CEO of Eka, will continue to play a pivotal role in guiding the vision and strategic direction of the combined company as a Board Advisor. His industry insight and leadership will be invaluable as Quor embarks on its next phase of growth. Manav comments, “the merger could not happen at a more opportune time – we have seen increased volatility across asset classes, greater desire of customers to hedge their risk, and substantial supply chain disruption; all of which leaves the market yearning for solutions from Eka and Quor.”

Steve Hughes, CEO of Quor, commented on the strategic synergies, stating, “I believe joining forces with Eka is a game-changer for us and our customers. I am keen to partner with Manav and his decades of knowledge to drive the CTRM industry forward into a new era of growth and success.”

Jefferies LLC acted as financial advisor and DLA acted as legal advisor to STG. Tree Line Capital Partners provided debt financing to support the acquisition.