iStockMUMBAI: New Mountain Capital, a New York-based private equity fund, has acquired a significant majority stake in Accolite Digital, a cloud and digital product engineering services provider, in a deal worth about $225-250 million.
With digital labs in Bangalore, Hyderabad, Gurugram and Chennai, the Texas-based Accolite employs more than 1,600 professionals globally. Promoted by Leela Kaza, Accolite has an estimated revenue of $100 million and an Ebitda of $25-30 million in FY21.
Founded in 2007, Accolite Digital has clients in sectors as diverse as banking and financial services, technology, healthcare, communications & media, and logistics industries. It provides digital product engineering, cloud services, data engineering, DevOps, customer experience and design services to leading Fortune 500 customers.
o3 Capital and EY served as exclusive financial advisors to Accolite Digital for the Transaction.
“We are confident that New Mountain’s deep sector expertise and proven track record of building businesses will help us achieve our growth ambitions and yield significant benefits for our customers, employees and industry partners,” said Leela Kaza, founder & CEO, Accolite Digital.
As part of the transaction, Accolite’s CEO and management team will continue to lead the business and stay invested in the company.
With digital labs in Bangalore, Hyderabad, Gurugram and Chennai, the Texas-based Accolite employs more than 1,600 professionals globally. Promoted by Leela Kaza, Accolite has an estimated revenue of $100 million and an Ebitda of $25-30 million in FY21.
Founded in 2007, Accolite Digital has clients in sectors as diverse as banking and financial services, technology, healthcare, communications & media, and logistics industries. It provides digital product engineering, cloud services, data engineering, DevOps, customer experience and design services to leading Fortune 500 customers.
o3 Capital and EY served as exclusive financial advisors to Accolite Digital for the Transaction.
“We are confident that New Mountain’s deep sector expertise and proven track record of building businesses will help us achieve our growth ambitions and yield significant benefits for our customers, employees and industry partners,” said Leela Kaza, founder & CEO, Accolite Digital.
As part of the transaction, Accolite’s CEO and management team will continue to lead the business and stay invested in the company.
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