Investcorp, a leading global alternative investment firm, on Monday said that it has entered into an agreement to acquire NSEIT, the digital technology business of the NSE.Â
The transaction excludes the digital examinations business that is also housed inside NSEIT.Â
This transaction value of â¹1,000 crore represents one of the largest mid-market deals in the country. It highlights Investcorpâs commitment towards scaling its investments in the technology and financial services sectors in India.Â
Gaurav Sharma, Head of India Investment Business at Investcorp,said, âWe are pleased to announce our acquisition of NSEIT. It is a significant step in our expansion efforts in India and it underscores our commitment to investing in high-growth sectors and backing credible founders and management teams. The transaction also highlights our unique ability to bring together our global platform as we look forward to driving international business working closely with our colleagues in the US and the rest of the world.â
Ashish Kumar Chauhan, MD and CEO of NSE, said: âThis transaction is a continuation of NSEâs strategy to focus on its core business areas and we are pleased that Investcorp, which is a leading global investor with deep experience in IT services, is assuming responsibility of NSEIT. Their acquisition of NSEIT is a testament to the quality and potential of the business weâve built. We are confident that under Investcorpâs stewardship, NSEIT will not only continue to thrive but also reach new heights in innovation and market expansion.â
NSEIT is a provider of advanced digital transformation and cybersecurity services focused on global customers in capital markets, insurance and banking.Â
Strong presence
NSEIT has a strong presence in India, North America and Middle East. The companyâs offerings include digital engineering, data and analytics, artificial intelligence, cloud services and cybersecurity services.Â
The acquisition is an extension of Investcorpâs track record of investing in technology and IT services companies around the world, particularly in the US. Synergistically, NSEIT is focused on significant expansion in the US, where it has grown at over 50 per cent CAGR over the last 4 years, by increasing its roster of clients across financial services.Â
Avendus Capital acted as the exclusive financial advisor to NSE and NSEIT. Ernst & Young LLP served as the financial and tax advisor to Investcorp with Anagram Partners acting as the legal counsel to Investcorp.Â
Anantharaman Sreenivasan (Ganesh), MD and CEO of NSEIT, said, âThe acquisition by Investcorp marks a pivotal moment in NSEITâs journey. NSEIT has created a niche, through its deep expertise in digital transformation and cybersecurity services with a strategic focus on capital markets and financial services sectorâ.
Crime Today News | Markets | Commodities | Forex | Stocks
Source | Powered by Yes Mom Hosting
Crime Today News Agency