What happens when a founder gives up control – and gains more power?
Deals usually end a founder’s run. But when Ivega merged with TCG Software, Giri Devanur turned that moment into a bigger leadership play. He didn’t treat the merger as an exit. He treated it as a test of vision.
That move became a lesson in how scale, trust, and clarity redefine what real leadership looks like.
Giri Devanur and TCG Software: Growth Decisions Define Scale
Before the merger, Ivega had $6 million in revenue and 250 people. TCG Software had 450. Together, they built a 700-person operation ready for enterprise clients and serious growth.
It wasn’t luck. It was design. Growth isn’t something you wait for. It’s something you build. A Giri Devanur-style mindset turns numbers into leverage and scale into credibility.
Takeaway: Growth rewards those who plan for it – not those who hope for it.
Leadership Comes From Vision, Not Ownership
Here’s what usually happens: the smaller company sells, the founder walks. Giri Devanur didn’t. TCG took the majority stake, but Giri became CEO of the merged company. Why? Because he had clarity. Teams follow leaders who know where to go next – not those holding the biggest slice of equity.
That’s how trust gets built. That’s how leadership sticks.
Takeaway: You don’t need control to have influence. You need direction.
Execution Makes Everyone Win
Global Tech Ventures and ChrysCapital – two early investors – exited fully through a stock-plus-cash deal. They didn’t get promises; they got returns.
This wasn’t luck either. It was execution done right – the kind that keeps investors coming back.
Takeaway: Build a track record that makes people want to bet on you again.
Success Isn’t the End Game
After scaling the merged entity, Giri Devanur moved on to his next play – Gandhi City near Bangalore, an innovation and research hub built to fuel new ideas.
That’s what real builders do. They don’t stop when things work. They start the next challenge.
Takeaway: Treat success as a door, not a destination.
What about you – are you chasing control, or are you building momentum?
FAQs
Why did Ivega merge with TCG Software?
To gain size, credibility, and access to enterprise opportunities faster.
Who led the merged company?
Giri Devanur became CEO – a decision driven by his vision, not his shareholding.
How were investors rewarded?
Global Tech Ventures and ChrysCapital exited with full, profitable returns through a stock-plus-cash deal.
Why did Giri Devanur move on after the merger?
He shifted focus to new projects like Gandhi City, showing a builder’s mindset never rests.
What business does TCG Software operate in?
IT consulting and enterprise solutions serving clients across India and the U.S.
