Investcorp To Acquire NSE's Tech Services Business By CIOTechOutlook Team

Investcorp To Acquire NSE's Tech Services Business

CIOTechOutlook Team | Tuesday, 30 April 2024, 03:02 IST

Investcorp, a private equity firm, has acquired NSEIT, the National Stock Exchange (NSE) digital technology division, for Rs1000 crore. The exchange rejects the advanced assessments business that is additionally housed inside NSEIT.

NSEIT, a leading provider of digital transformation and network protection administrations centered on worldwide customers in capital business sectors, protection, and banking, has excellent areas of strength in India, North America, and the Middle East. The organization's contributions incorporate advanced designing, data and analytics, artificial intelligence, cloud administrations, and cybersecurity services.

The acquisition expanded Investcorp's history of putting resources into innovation and IT administration organizations worldwide, especially in the US, and added delivery. NSEIT is concentrating on significant expansion in the United States, where it has grown at a CAGR of more than 50% over the past four years by adding more financial services clients to its roster.

“This transaction also highlights our unique ability to bring together our global platform as we look forward to driving international business working closely with our colleagues in the US and the rest of the world," said Gaurav Sharma, Head of India Investment Business at Investcorp.

“This transaction is a continuation of NSE’s strategy to focus on its core business areas,"said Ashish Kumar Chauhan, MD and CEO of NSE. Their acquisition of NSEIT is a testament to the quality and potential of the business we've built. We are confident that under Investcorp's stewardship, NSEIT will not only continue to thrive but also reach new heights in innovation and market expansion, he added.

"NSEIT’s capabilities in advanced digital and cybersecurity technologies combined with its vertical focus in financial services uniquely position it for global growth,"said Varun Laul, Partner at Investcorp.