New Delhi, Sept. 11 -- US-based digital engineering services company Accion Labs Inc, which is backed by US-based private equity firm TA Associates and homegrown PE player True North, has acquired a company that provides engineering and professional services.
Accion, which is headquartered in Pittsburgh and has a presence across 23 locations and over 4,200 employees, has acquired Bengaluru-based SM NetServ's India and its US operations for an undisclosed amount, the company said in a statement. The acquisition will strengthen Accion's product engineering and business intelligence capabilities.
NetServ's addition will also enhance Accion's global delivery capabilities and strengthen its expertise in product engineering and business intelligence.
NetServ provides end-to-end software product engineering to enterprises, helping them design, build, and sustain their core products. It will continue to operate as an independent entity under Accion Labs. The deal will enable the two companies to cross-sell their services across their client base, according to a person familiar with the matter.
"This relationship will deepen our engagement with our clients across multiple technologies, including digital engineering, cloud, data and AI, and system automation, globally," said NetServ co-founders Mukundan Srinivasan and Sam Murthy.
Accion will be able to leverage NetServ's marquee clients in the health and insurance space in the US.
The acquisition will also help Accion expand its leadership team and presence in Bengaluru, India, and in Denver and Atlanta in the US, said Accion Labs' chief executive officer Kinesh Doshi.
Novistra Capital advised NetServ Technologies on its acquisition by Accion Labs.
Published by HT Digital Content Services with permission from VC Circle.