Latest news with #SLKSoftware
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.
