Mumbai, April 29 (SocialNews.XYZ) Global alternative investment firm Investcorp on Monday announced it was acquiring NSEIT, the digital technology services business of the National Stock Exchange (NSE), for Rs 1,000 crore.
The transaction does not include the digital examinations business that is also housed inside NSEIT, a leading provider of advanced digital transformation and cybersecurity services.
"This acquisition is a significant step in our expansion efforts in India and underscores our commitment to investing in high-growth sectors and backing credible founders and management teams," said Gaurav Sharma, Head of India Investment Business at Investcorp.
Ashish Kumar Chauhan, MD and CEO of NSE, said this acquisition is a continuation of NSE’s strategy to focus on its core business areas.
"The acquisition of NSEIT is a testament to the quality and potential of the business we've built. We are confident that under Investcorp's stewardship, NSEIT will not only continue to thrive but also reach new heights in innovation and market expansion," he added.
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.
Anantharaman Sreenivasan, MD and CEO of NSEIT said that their strong credentials, combined with Investcorp’s global reach, "uniquely positions us to drive value enhancement for our clients, both present and future".
"We thank NSE for its guidance and leadership in enabling NSEIT to achieve a formidable position in India and global markets," he added.
Investcorp‘s investments in India include Global Dental, Wakefit, Canpac, Xpressbees, Nephroplus, Safari Industries, InCred, Citykart, Zolo, Freshtohome, Intergrow Brands, Unilog, V-Ensure, and NDR Warehousing.
Source: IANS
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