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Altimetrik nears Rs 5,100 crore acquisition of SLK Software


Altimetrik, the US-based digital services agency owned by PE main TPG Capital, is in superior talks to amass Bengaluru-headquartered SLK Software, in accordance with individuals aware of the matter. The deal is predicted to peg SLK’s worth at $500-600 million (Rs 4,270-5,100 crore).

Altimetrik has signed an exclusivity settlement with SLK, in accordance with the individuals cited. ET was first to report in February that quite a lot of IT firms, together with Mphasis, Hexaware Applied sciences and Altimetrik, had been within the race to amass SLK. Based in 2000 and promoted by the Amin household, SLK Software program (previously SLK Digital) gives AI-driven technology solutions with a deal with clever automation and analytics.


Supply Centres in 7 Nations

The corporate has supply centres in seven nations, together with India and the US, with shoppers in manufacturing, banking, insurance coverage and monetary providers.

SLK is projected to report ebitda of about $40 million in FY25, stated individuals conscious of the financials. Its consumer roster consists of Google Cloud, Microsoft, Oracle and Salesforce. SLK Software program CEO Ajay Kumar and Altimetrik didn’t reply to queries. TPG final yr acquired a 60% stake in Altimetrik from Indian-American tech entrepreneur Raj Vattikuti at a valuation of $1.5 billion (Rs 12,500 crore).

Dwell Occasions

Altimetrik employs over 6,000 professionals in 18 nations, with greater than 80% of its workforce based mostly in India. The corporate helps companies implement digital transformation, in accordance with its web site. Altimetrik has places of work in Pune, Chennai, Bengaluru, Hyderabad, Jaipur and Gurgaon. The corporate just lately appointed Rajeev Jain, previously govt vice chairman at LTIMindtree, as chief working officer.

SLK’s India presence consists of places of work in Bengaluru and Pune apart from Cincinnati and Chicago within the US. It additionally maintains operations in France, the Netherlands, Germany, the UK and Singapore. In 2021, SLK’s promoters offered a controlling stake in its BPM arm, SLK International Options, to Coforge Ltd for Rs 920 crore. SLK primarily serves regional banks, producers and power sector shoppers within the US. As a part of its world enlargement, the corporate final yr partnered with Gray matter Innovationz in Mexico to kind GMI-SLK Mexico, strengthening its footprint in Latin America.

The digital engineering providers (DES) sector is seeing heightened M&A exercise pushed by high-quality, globally distributed property, fast development verticals, and mental property led enterprise fashions, stated a current report by Avendus Capital. Non-public fairness companies, answerable for over 50% of such offers up to now decade, are accelerating consolidation to construct scalable platforms and unlock operational worth. The worldwide tech providers trade recorded 216 transactions value $334 billion between January 2013 and September 2024, with every deal exceeding $300 million in worth.

In the meantime, India’s software program merchandise market is projected to develop from $15 billion in FY23 to $44 billion by FY31, underscoring the increasing potential for tech investments.