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ChrysCapital-backed Xoriant seals second bet with MapleLabs

VCCircle

VCCircle · 1y ago

ChrysCapital-backed Xoriant seals second bet with MapleLabs

California-based software engineering company Xoriant, backed by ChrysCapital, has acquired Bangalore-based technology solutions provider MapleLabs. The financial details of the transaction were not disclosed. Xoriant aims to strengthen its platform engineering capabilities and expand its position in maintaining complex cloud-native applications. The acquisition will also give Xoriant access to MapleLabs' observability platform SnappyFlow and cloud/datacenter sizing tools. MapleLabs' team of over 300 consultants brings expertise in hybrid cloud infrastructure, cloud-native engineering, site reliability engineering, and observability. This acquisition follows Xoriant's previous acquisition of Thoucentric last year.

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Xoriant acquires MapleLabs to expand its platform engineering capabilities

Economic Times

Economic Times · 1y ago

Xoriant acquires MapleLabs to expand its platform engineering capabilities

US-based consulting and IT services firm Xoriant has acquired Bengaluru-based product engineering firm MapleLabs. The acquisition aims to enhance Xoriant's capabilities in platform engineering, product development, and cloud native applications. MapleLabs brings expertise in hybrid cloud infrastructure, observability, and Site Reliability Engineering (SRE). The financial details of the deal were undisclosed. Xoriant, backed by private equity firm ChrysCapital, aims to strengthen its position in the digital engineering space and provide innovative solutions to its global clients. This is Xoriant's second acquisition following the acquisition of Bengaluru-based consulting firm Thoucentric in 2023.

Xoriant acquires MapleLabs in push to lead digital engineering space

Livemint

Livemint · 1y ago

Xoriant acquires MapleLabs in push to lead digital engineering space

California-based software engineering and digital services company, Xoriant, has acquired technology-solutions provider MapleLabs. The financial terms of the deal were not disclosed. The acquisition will strengthen Xoriant's platform engineering capabilities and help in maintaining complex, cloud-native applications. Xoriant will also benefit from MapleLabs' IPs such as SnappyFlow, which optimises cloud performance. This acquisition follows Xoriant's previous acquisition of Thoucentric last year. Indian private equity firm ChrysCapital, which acquired a controlling stake in Xoriant, aims to boost the company's revenue to $800 million over the next five to seven years.

Chryscapital-backed Xoriant hires LTIMindtree's Mukund Rao to lead global markets

Economic Times

Economic Times · 1y ago

Chryscapital-backed Xoriant hires LTIMindtree's Mukund Rao to lead global markets

ChrysCapital-backed IT services provider Xoriant has appointed Mukund Rao, former LTI-Mindtree executive, as the President for Global Markets. With over 20 years of experience in the software services industry, Rao previously served as the Chief Business Officer of the BFSI vertical at LTI-Mindtree. Xoriant focuses on digital product engineering, cloud infrastructure, and operations across sectors like BFSI, healthcare, manufacturing, and telecommunications. The company reported a revenue of $178 million in FY23 and has around 3,100 employees.

ChrysCapital-owned Xoriant acquires Salesforce consulting firm Fexle

VCCircle

VCCircle · 10m ago

ChrysCapital-owned Xoriant acquires Salesforce consulting firm Fexle

ChrysCapital-owned Xoriant has acquired Fexle, a Salesforce consulting firm, as part of its strategy to strengthen its Salesforce practice and expand its presence in AI and cloud services. The financial terms of the deal were not disclosed. Xoriant plans to integrate Fexle's architects, consultants, and developers to enhance its offerings in AI-powered digital engineering, delivering high-performance platforms to clients across industries. This acquisition will also optimize data use and enhance AI capabilities for Xoriant's customers as digital transformation accelerates. Xoriant aims to reach a revenue of $800 million in the next five to seven years.

ChrysCapital seals over $800-mn PE exit

VCCircle

VCCircle · 1y ago

ChrysCapital seals over $800-mn PE exit

ChrysCapital, a prominent private equity firm, has completed an exit worth over $800 million, marking a successful liquidity event. Known for raising India's largest sector-agnostic PE fund and being active in investment activities in 2023, this recent development is expected to attract more limited partners to the firm. The details regarding the specific deal and its implications are not provided in the summary.

ChrysCapital tops up pharma bet as VCs cash out, valuation climbs

VCCircle

VCCircle · 5m ago

ChrysCapital tops up pharma bet as VCs cash out, valuation climbs

ChrysCapital, a private equity firm, has increased its investment in a domestic formulations company through a secondary transaction. This move allows two venture capital firms to cash out their investments. ChrysCapital collaborates with another PE investor to bolster their existing portfolio company. This action reflects ChrysCapital's strategic focus as they deploy their ninth fund, showing confidence in the pharmaceutical sector and responding to rising company valuations amidst venture capital exits.

How investors struck gold in the new-age IPO boom

Economic Times

Economic Times · 1y ago

How investors struck gold in the new-age IPO boom

A wave of venture-backed new-age firms going public in second rounds of initial public offerings (IPOs) has become lucrative for investors such as Peak XV Partners, Elevation Capital, ChrysCapital, A91 Partners, and TVS Capital. Mamaearth parent Honasa Consumer started the trend in October 2021, with other companies like Go Digit, Awfis, and ixigo following suit. Earlier this year, companies like Zomato, Nykaa, PB Fintech, Paytm, and Delhivery also went public, further contributing to the investor gold rush in the IPO market.

Saudi's Jada Fund of Funds strikes maiden venture credit bet in American fund

VCCircle

VCCircle · 1y ago

Saudi's Jada Fund of Funds strikes maiden venture credit bet in American fund

Jada Fund of Funds, backed by Saudi Arabia's Public Investment Fund, has made its first venture debt investment in a US-based fund that provides specialized debt solutions for tech entrepreneurs. This marks Jada's second foray into the private credit space and its second limited partner-style bet of the year.

ChrysCapital to bet big on branded healthcare in India, says MD Raghav Ramdev

Livemint

Livemint · 1y ago

ChrysCapital to bet big on branded healthcare in India, says MD Raghav Ramdev

Private-equity firm ChrysCapital is planning to increase its investments in the healthcare sector in India, according to Managing Director Raghav Ramdev. While specific investment figures were not disclosed, the company sees branded healthcare gaining prominence among Indians and aims to target healthcare delivery and services. ChrysCapital recently made its first private healthcare investment by injecting $100 million into eyecare chain Centre For Sight. The firm also plans to evaluate deals in single-speciality and multi-speciality hospital chains, as well as diagnostics, medical devices, and contract development and manufacturing organisations (CDMOs).

ChrysCapital-backed ResultsCX buys UK consulting firm

VCCircle

VCCircle · 1y ago

ChrysCapital-backed ResultsCX buys UK consulting firm

ChrysCapital-backed customer experience management services provider, ResultsCX, has acquired UK consulting and customer solutions company, Huntswood. With a workforce of 6,000 professionals in the UK and Europe, ResultsCX aims to enhance its digital-first operations and expand service capabilities in the BFSI sector. The acquisition also helps establish a presence in South Africa for offshoring operations. ChrysCapital, with $6 billion assets under management, sees this acquisition as a way for ResultsCX to solidify its presence in the UK market and secure a prestigious client portfolio.

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