Latest news with #SLK
Time of India
5 days ago
- Business
- Time of India
Altimetrik Closes in on SLK Software Buyout
Live Events Altimetrik, the US-based digital services firm owned by PE major TPG Capital , is in advanced talks to acquire Bengaluru-headquartered SLK Software , according to people familiar with the matter. The deal is expected to peg SLK's value at $500-600 million (₹4,270-5,100 crore).Altimetrik has signed an exclusivity agreement with SLK, according to the people was first to report in February that a number of IT companies, including Mphasis, Hexaware Technologies and Altimetrik, were in the race to acquire in 2000 and promoted by the Amin family, SLK Software (formerly SLK Digital) provides AI-driven technology solutions with a focus on intelligent automation and company has delivery centres in seven countries, including India and the US, with clients in manufacturing, banking, insurance and financial is projected to report ebitda of about $40 million in FY25, said people aware of the financials. Its client roster includes Google Cloud, Microsoft, Oracle and Software CEO Ajay Kumar and Altimetrik didn't respond to last year acquired a 60% stake in Altimetrik from Indian-American tech entrepreneur Raj Vattikuti at a valuation of $1.5 billion (Rs 12,500 crore). Altimetrik employs over 6,000 professionals in 18 countries, with more than 80% of its workforce based in India. The company helps businesses implement digital transformation, according to its has offices in Pune, Chennai, Bengaluru, Hyderabad, Jaipur and Gurgaon. The company recently appointed Rajeev Jain, formerly executive vice president at LTIMindtree, as chief operating India presence includes offices in Bengaluru and Pune besides Cincinnati and Chicago in the US. It also maintains operations in France, the Netherlands, Germany, the UK and Singapore. In 2021, SLK's promoters sold a controlling stake in its BPM arm, SLK Global Solutions, to Coforge Ltd for Rs 920 primarily serves regional banks, manufacturers and energy sector clients in the US. As part of its global expansion, the company last year partnered with Greymatter Innovationz in Mexico to form GMI-SLK Mexico, strengthening its footprint in Latin digital engineering services (DES) sector is seeing heightened M&A activity driven by high-quality, globally distributed assets, rapid growth verticals, and intellectual property led business models, said a recent report by Avendus equity firms, responsible for over 50% of such deals in the past decade, are accelerating consolidation to build scalable platforms and unlock operational global tech services industry recorded 216 transactions worth $334 billion between January 2013 and September 2024, with each deal exceeding $300 million in India's software products market is projected to grow from $15 billion in FY23 to $44 billion by FY31, underscoring the expanding potential for tech investments.
Economic Times
5 days ago
- Business
- Economic Times
Altimetrik nears Rs 5,100 crore acquisition of SLK Software
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Altimetrik, the US-based digital services firm owned by PE major TPG Capital , is in advanced talks to acquire Bengaluru-headquartered SLK Software , according to people familiar with the matter. The deal is expected to peg SLK's value at $500-600 million (Rs 4,270-5,100 crore).Altimetrik has signed an exclusivity agreement with SLK, according to the people cited. ET was first to report in February that a number of IT companies, including Mphasis, Hexaware Technologies and Altimetrik, were in the race to acquire SLK. Founded in 2000 and promoted by the Amin family, SLK Software (formerly SLK Digital) provides AI-driven technology solutions with a focus on intelligent automation and company has delivery centres in seven countries, including India and the US, with clients in manufacturing, banking, insurance and financial is projected to report ebitda of about $40 million in FY25, said people aware of the financials. Its client roster includes Google Cloud, Microsoft, Oracle and Salesforce. SLK Software CEO Ajay Kumar and Altimetrik didn't respond to queries. TPG last year acquired a 60% stake in Altimetrik from Indian-American tech entrepreneur Raj Vattikuti at a valuation of $1.5 billion (Rs 12,500 crore).Altimetrik employs over 6,000 professionals in 18 countries, with more than 80% of its workforce based in India. The company helps businesses implement digital transformation, according to its website. Altimetrik has offices in Pune, Chennai, Bengaluru, Hyderabad, Jaipur and Gurgaon. The company recently appointed Rajeev Jain, formerly executive vice president at LTIMindtree , as chief operating India presence includes offices in Bengaluru and Pune besides Cincinnati and Chicago in the US. It also maintains operations in France, the Netherlands, Germany, the UK and Singapore. In 2021, SLK's promoters sold a controlling stake in its BPM arm, SLK Global Solutions, to Coforge Ltd for Rs 920 crore. SLK primarily serves regional banks, manufacturers and energy sector clients in the US. As part of its global expansion, the company last year partnered with Grey matter Innovationz in Mexico to form GMI-SLK Mexico, strengthening its footprint in Latin digital engineering services (DES) sector is seeing heightened M&A activity driven by high-quality, globally distributed assets, rapid growth verticals, and intellectual property led business models, said a recent report by Avendus Capital. Private equity firms, responsible for over 50% of such deals in the past decade, are accelerating consolidation to build scalable platforms and unlock operational value. The global tech services industry recorded 216 transactions worth $334 billion between January 2013 and September 2024, with each deal exceeding $300 million in India's software products market is projected to grow from $15 billion in FY23 to $44 billion by FY31, underscoring the expanding potential for tech investments.
Time of India
5 days ago
- Business
- Time of India
Altimetrik nears Rs 5,100 crore acquisition of SLK Software
Altimetrik, the US-based digital services firm owned by PE major TPG Capital , is in advanced talks to acquire Bengaluru-headquartered SLK Software , according to people familiar with the matter. The deal is expected to peg SLK's value at $500-600 million (Rs 4,270-5,100 crore). Altimetrik has signed an exclusivity agreement with SLK, according to the people cited. ET was first to report in February that a number of IT companies, including Mphasis, Hexaware Technologies and Altimetrik, were in the race to acquire SLK. Founded in 2000 and promoted by the Amin family, SLK Software (formerly SLK Digital) provides AI-driven technology solutions with a focus on intelligent automation and analytics. Delivery Centres in 7 Countries The company has delivery centres in seven countries, including India and the US, with clients in manufacturing, banking, insurance and financial services. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas Prices In Dubai Might Be More Affordable Than You Think Villas In Dubai | Search Ads Get Rates Undo SLK is projected to report ebitda of about $40 million in FY25, said people aware of the financials. Its client roster includes Google Cloud, Microsoft, Oracle and Salesforce. SLK Software CEO Ajay Kumar and Altimetrik didn't respond to queries. TPG last year acquired a 60% stake in Altimetrik from Indian-American tech entrepreneur Raj Vattikuti at a valuation of $1.5 billion (Rs 12,500 crore). Live Events Altimetrik employs over 6,000 professionals in 18 countries, with more than 80% of its workforce based in India. The company helps businesses implement digital transformation, according to its website. Altimetrik has offices in Pune, Chennai, Bengaluru, Hyderabad, Jaipur and Gurgaon. The company recently appointed Rajeev Jain, formerly executive vice president at LTIMindtree , as chief operating officer. SLK's India presence includes offices in Bengaluru and Pune besides Cincinnati and Chicago in the US. It also maintains operations in France, the Netherlands, Germany, the UK and Singapore. In 2021, SLK's promoters sold a controlling stake in its BPM arm, SLK Global Solutions, to Coforge Ltd for Rs 920 crore. SLK primarily serves regional banks, manufacturers and energy sector clients in the US. As part of its global expansion, the company last year partnered with Grey matter Innovationz in Mexico to form GMI-SLK Mexico, strengthening its footprint in Latin America. The digital engineering services (DES) sector is seeing heightened M&A activity driven by high-quality, globally distributed assets, rapid growth verticals, and intellectual property led business models, said a recent report by Avendus Capital. Private equity firms, responsible for over 50% of such deals in the past decade, are accelerating consolidation to build scalable platforms and unlock operational value. The global tech services industry recorded 216 transactions worth $334 billion between January 2013 and September 2024, with each deal exceeding $300 million in value. Meanwhile, India's software products market is projected to grow from $15 billion in FY23 to $44 billion by FY31, underscoring the expanding potential for tech investments.
The Sun
11-05-2025
- Automotive
- The Sun
Four convertibles perfect for summer driving that can be bought at bargain prices
SUMMERTIME is just around the corner – even if the occasional grey skies and chilly breeze make it hard to believe. And with the warmer, sunnier days on the horizon, it feels like the perfect time to cruise across town in a seriously cool cabriolet. 5 5 5 Better yet, picking up a fun and fast convertible that's also reliable and even family friendly has never been easier, with plenty of options available. "There's nothing quite like that moment of the sun on your face, top down as summer arrives,' said Catherine King of Auto Trader, who recently revealed to Sun Motors her top drop top favourites. 'We often see an increase in searches for convertibles when the sun appears, for example two weeks ago when we had a sunny weekend, we saw a 15% day-on-day increase across the platform. 'While some might think convertibles are expensive and just for summer, there are plenty of budget-friendly options suitable for use all year round. 'As well as price, space is also a key consideration. Convertibles tend to have smaller boots as the roof needs to be stored too. 'However, models like the BMW 1 series offer some of the most space, ideal for the summer essentials.' A good, 1 series BMW convertible can be found on Auto Trader for under £8,000 with some 35,000 miles on the clock, while higher mileage examples can be found for as little as £4,000. Another example is the Mercedes SLK, one of the most popular two-seater convertibles that ranges from £1,500 to £9,000 on the used car website. Not one for large families obviously, but great for those looking for something classy and cool, with great handling. On the flip side, the Mini Cooper Convertible, while small, does come with the extra passenger seats in the back - as well as the extra oomph you'd come to expect from the Cooper variant. 5 modern classics that 'could make you money' including Saab convertible Catherine added: 'A key factor is whether you want a two-seater, something like the Mercedes SLK or a four-seater to accommodate more passengers, such as a Mini Cooper Convertible. 'With a four-seater those in the back may be set for a windier ride, with less screen protection, but it's more practical if you regularly have more passengers.' One thing convertible buyers might need to consider is roof-type, as there are a range of options. Fabric roofs, while prone to more weather damage, are often simpler and manually operated, in contrast to hardtops, which are more durable but are heavier and can be expensive if they go wrong. Catherine said: 'It will come down to what best suits your lifestyle and how you can store the car. 'Of course, reliability is always key. The classic Mazda MX-5, which has become almost the poster child for convertible cars, has long been recognised as a mechanically reliable choice although it's worth noting it can be prone to rust. 'Prioritising reliability means you can have some peace of mind and confidence that it will stand the test of time.' With over 15,000 convertible models currently listed on Auto Trader, whatever your budget and needs, there's bound to be an option for you. 5 5
Yahoo
02-04-2025
- Automotive
- Yahoo
At $3,000, Is This 1999 Mercedes SLK 230 A Bedazzled Bargain?
With its racing stripes and fake vents sprinkled across the hood and doors, today's Nice Price or No Dice Mercedes SLK 230 certainly stands out from the crowd. It wouldn't take much to bring it back to its stock state, but is the price too high to even warrant the effort? For an internal combustion engine, the entire point of adding nitrous oxide (N2O)—as is the case with forced induction—is to increase the energy density of the intake charge, thus giving you more poke in your stroke. For people, it's generally used as an inhalational anesthetic, used for light procedures, and most commonly known as 'laughing gas.' The 1993 Ford Mustang LX 5.0 that we considered yesterday was set up for either street or strip and was fitted with nitrous for some added oomph in either arena. Its $25,000 asking price was no laughing matter, though, a fact made evident by the 87% No Dice drubbing it received in the vote. Read more: These Are The Dumbest Looking Cars Of All Time, According To You Speaking of forced induction... There are two main types: turbocharging, which uses energy captured from the pressure of the exhaust to compress the intake charge, and supercharging, which employs mechanical means, usually by way of a crank-driven belt, to achieve the same goal. As its name implies, this 1999 Mercedes-Benz SLK 230 Kompressor gets its added boost via the second method. The 2.3-liter four-pot under its hood has been imbued with a Roots-style twin-scroll supercharger tucked down below the motor's right side and driven by a belt. Sourced from Eaton, the M62 blower boosts the little Benz's DOHC four to 185 horsepower and 200 lb-ft of torque. Paired with the five-speed automatic, as has been fitted to this car, that means a zero to sixty time of just over seven seconds and a get-out-of-town speed of 140 miles per hour. Naturally, this being a Mercedes, it's also equipped with a slew of safety, comfort, and convenience features to round out the package. One of the coolest of those features is the trick roof. The SLK's party piece is that top and the boot lid, the former folding origami-style up and down, and the latter opening both front-ways and back-ways to facilitate either top or cargo. Unfortunately, storing the top down means there's little room left for baubles or bags. According to the ad, the top on this 113,000-mile SLK goes down just fine but struggles to go back up. That's the sort of affliction that affects many of us with age. The top's mechanism is hydraulic, with the pump and reservoir sitting in the boot just ahead of the right tail lamp for easy examination. That, or its relay, could be failing. Alternatively, the issue could be with any one of the hydraulic rams or microswitches that make the dance happen. Whatever the reason, it will likely be pricey to fix. That's not the object of our immediate attention, however. The top may have been the model's tour de force from the factory, but it didn't make the car unique enough for someone. Adding to the fancy roof are a bunch of plastic vents, tape stripes, and smoked lenses for the head and tail lamps. On top of that, both the badging and the five-spoke alloys have been given the blackout treatment. Overall, it's a very unique presentation, and fortunately, one that could be easily returned to its more mundane form with little more than an afternoon's work. Other than the add-ons, the car looks to be in very nice condition. The bodywork is straight, and all the trim is intact. A number of parts are said to have been replaced on the car, although save for a new dashboard and the addition of a backup camera, the ad doesn't go into detail as to what exactly those all were. That dash looks like it came from the factory, and aside from some wear on the steering wheel and the addition of a cup holder and cell phone mount, everything appears to be in stock and great shape. The aftermarket stereo does stick out of the dash awkwardly, so that may be another piece to add to the list of items to toss. The ad does say that the car "Runs and drives great," but notes that it is on PNO (Planned Non-Operation), which means it hasn't been running or driving anyplace all that recently. Most often, that's a situation that has resulted from the car not being able to pass its smog test, preventing it from renewing of the registration. That doesn't seem to be the case here, as the seller says there is no CEL light, and the car passes its smog test. It also does have a clean title, so there is no monkey business there. If that all is to be believed, then all this little Mercedes needs to be a fun summer runabout is some spit and polish and maybe some sleuthing around a fix for that crazy top mechanism. How hard could it be? The question, of course, is whether it's worth diving into at all at its asking price. That's $3,000, and it's now time for us to all weigh in on this car's total attraction and whether that price tag improves it or throws it all out of whack. What's your take on this SLK and that $3K price tag? Does that seem like a deal for this overly expressive baby Benz? Or does the bling botch the bargain? You decide! Los Angeles, California, Craigslist, or go here if the ad disappears. H/T to Don R. for the hookup! Help me out with NPOND. Hit me up at robemslie@ and send me a fixed-price tip. Remember to include your commenter handle. Want more like this? Join the Jalopnik newsletter to get the latest auto news sent straight to your inbox... Read the original article on Jalopnik.
