New Delhi, Aug. 17 -- Nearly half of the mergers and acquisitions undertaken by India's leading IT companies over the past two financial years were driven by the need to acquire artificial intelligence and allied capabilities, as companies increasingly turn to acquisitions to accelerate their transition towards AI-led services, according to Crisil Ratings.

"AI has moved from experimentation to a boardroom priority, and inorganic investments are now being used to compress capability-building cycles," Crisil Ratings said.

The trend marks a shift in acquisition strategy for Indian IT companies. Of around 90 M&A deals assessed by Crisil Ratings, acquisitions between fiscals 2019 and 2024 were primarily aimed at strengthening digital capabil...