Xoriant, a leading software engineering and digital IT services provider serving Fortune 100 clients worldwide, today announced its acquisition by ChrysCapital. This marks a brand new phase of growth for Xoriant with its rich culture of innovation, global footprint and more than 30 years of passion, determination and progress. ChrysCapital is a leading private equity firm with a track record of investing in business services (IT/engineering/business process), financial services, pharmaceutical and consumer-facing companies. This is the second acquisition from ChrysCapital’s ninth fund and ninth corporate services acquisition since inception.
Headquartered in Sunnyvale, California, Xoriant provides services and solutions with a focus on Digital Product Engineering, Cloud Infrastructure & Operations, Security, Data Engineering/Management & Analytics. It also provides enterprise services, including application development and maintenance, to customers in the BFSI, high tech, healthcare, pharmaceutical, industrial manufacturing, retail, telecom and automotive industries. The majority of Xoriant’s customers are global companies that are leaders in their respective industries.
With more than 5000 employees worldwide, Xoriant employs best practices, accelerators and technologies backed by best-in-class intellectual property to deliver an impressive client NPS, as evidenced by long-standing client relationships. The company has also been recognized for its HR practices with listings in awards such as India’s Top Tech Companies to Work For and India’s Best Workplaces in IT & IT-BPM.
Girish Gaitonde, Founder and CEO of Xoriant stated, “When Xoriant was founded as TekEdge in 1990, I did not anticipate the size and reputation the company would achieve over the next three decades. My sincere appreciation goes to our 5000+ employees and partners around the world who are our true X-Factor, as well as our customers who have repeatedly shown their trust in us. I look forward to working with Sanjay Jalona and ChrysCapital for the next phase of this journey and benefiting from their extensive experience building great client relationships with successful global growth. I look forward to the opportunity to accelerate value creation for all of our stakeholders.”
Akshat Babbar, Director, ChrysCapital said: “At ChrysCapital we have developed deep expertise in digital IT services across all industries. Given our experience in this space, we are confident that ChrysCapital will add value to Xoriant on this journey. We are committed to further expanding the company’s attractive customer base, long-standing relationships, domain and service line expertise, and digital IT offerings.”
Sanjay Jalona, Operating Partner of ChrysCapital, said: “My interactions with Girish and the team at Xoriant over the past few months have shown me just how special the company is. Everyone at Xoriant brings an unparalleled heritage in product and application engineering and demonstrates the company’s core values – customer first, passion for technology and innovation, respect for the individual, ownership and excellence, and an open and collaborative culture. I look forward to working with the leadership team to grow the business to its true potential in the months and years to come.”
