Digital Business Company Altimetrik has signed a final agreement to acquire technology company SLK software.
With the acquisition, Altimetrik will try to improve its end-to-end enablement services and broaden its customer base, in accordance with its goal of achieving $ 1 billion in annual income.
The financial details of the deal were not announced. However, The economic times reported that the transaction is valued at around $ 600 million.
SLK Software, founded in 2000, focuses on delivering AI, intelligence automation and analysis solutions. The acquisition is expected to strengthen the possibilities of Altimetrik by integrating its AI-first, platform-native engineering model with SLK’s Technology Services Stack.
Altimetrik CEO Raj Sundaresan said: “To enable an AI-first company a robust data global infrastructure based on product and platform-technical strictness is crucial.
“Our investment in SLK reflects our intention to deepen our dedication to customers who are looking for digital, AI-driven solutions that make it possible to create business value with an unparalleled speed and scale.”
The transaction is expected to close in the second half of this year, depending on the usual closing conditions.
After completion, the combined entity will serve more than 150 global companies, including Fortune 500 companies. The partnership will include a network with industrial pioneers such as OpenAI, Amazon Web Services, Snowflake and Databricks.
The combined company has a workforce of more than 10,000 professionals worldwide.
Founder and chairman of SLK Software Parth Amin said: “This is not a traditional integration. It is a strategic gear.
“In Altimetrik we have found a partner who shares our values of customer intimacy, human plant and a passion for innovation and agility. Together we will unlock larger opportunities for our customers and at the same time retain the speed and responsiveness for which they trust us.”
Avendus Capital served as an exclusive financial adviser to SLK software, while EY Altimetrik and the majority owner advised TPG.
“Altimetrik to acquire SLK software” was originally made and published by Verdict, a brand global data.
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