CHRYSCAP’S INFOGAIN ACQUIRES BLUE STAR’S IT UNIT FOR RS 180CR

IT Services, Technology

Bengaluru: ChrysCapital-controlled technology consulting company Infogain is acquiring the IT operations of Blue Star Infotech, a part of airconditioning major Blue Star, for Rs 180 crore to bolster its digital offerings in areas including cloud, mobility and analytics.

The combined entity will have revenue of over $150 million and close to 4,000 employees across eight delivery locations globally. Post the sale, the other assets of Blue Star Infotech will merge with parent Blue Star.

The acquisition comes weeks after private equity firm ChrysCapital invested $63 million in Infogain which provides technology solutions for clients in high-technology, retail and insurance sectors.

The deal will accelerate Infogain’s cross-business synergies in product engineering, test automation and analytics to morph into a new age digital services provider.

Sanjay Kukreja, managing director at ChrysCapital said the transaction helps Infogain to build a leading new age digital services platform with combined capabilities in cloud, mobility, SAP, analytics and product engineering. “We expect the combined company to grow to $500 million in revenues, through organic and inorganic growth, within the next five years,” he added.

New digital imperatives like social, mobile, cloud and analytics are changing the narrative for $146 billion Indian IT sector. Clients are increasingly turning to digital specialists to make sense of digital disruptions impacting their industries.
ChrysCapital, which currently manages $2.5 billion across six funds, has been a prolific investor in the Indian IT sector. The PE major which initially backed companies such as Mphasis and Spectramind, later bought into heavyweights such as Infosys and HCL Technologies only to exit with blockbuster returns. Last year, ChrysCapital bought a large minority stake in Philadelphia-based digital firm Liquidhub, working on analytics.
SOURCE: PTI
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *