ChrysCapital has acquired Xoriant, a leading provider of software engineering and digital IT services, with Fortune 100 clients throughout the globe. With its rich culture of invention, global presence, and more than 30 years of passion, purpose, and advancement, this usher in a new stage of growth for Xoriant. Leading private equity company ChrysCapital has a successful track record of investing in businesses that provide business services, financial services, pharmaceuticals, and consumer-oriented businesses. Since its founding, ChrysCapital has acquired nine business services, making this the second buyout from its ninth fund.
Additionally, it offers enterprise services to clients in the BFSI (banking, financial services, and insurance), high-tech, medical, pharmaceutical, advanced sectors, retailing, telecom, and automobile sectors. These services include application design and maintenance. Most of Xoriant’s clients are multinational corporations dominating their specialized industries.
The services and solutions offered by Sunnyvale, California-based Xoriant are centered on Digital Manufacturing, Cloud platforms & Services, Privacy, Data Technology & Analysis.
Long-standing client relationships show that Xoriant employs five thousand plus worldwide delivery employees and uses best practice processes, catalysts, and innovations underpinned by world-class IP to provide excellent customer NPS. India’s Top Best Tech Companies to Work For and India’s Best Workplaces in IT & IT-BPM are two awards that identify the company for its workforce policies.
ChrysCapital said the purchase represents the second buyout from its $1.4 billion ninth fund, which it raised in 2022. Together with Bandhan Financial Holdings and Singapore’s GIC sovereign fund, it invested in IDFC AMC last year.
ChrysCapital director Akshat Babbar stated, “We have strong competence with Digital IT Services throughout industry verticals. At ChrysCapital, we have strong experience in various industrial verticals with digital IT services. We are certain that ChrysCapital will contribute value to Xoriant in this journey, given our sizeable investment in the area. We are dedicated to expanding on the business’ desirable clientele, enduring connections, domain and service-line knowledge, and digital IT products.”
Gaitonde, founder and CEO of Xoriant, remarked that when the firm was started as TekEdge in 1990, he “could not foresee the reach and reputation that now the firm would attain in the next three decades.”
“I’ve come to appreciate how unique the business is as a result of my contacts with Girish and the Xoriant team over the past few months. Everyone at Xoriant exhibits the company’s core values of putting the customer first, being passionate about technology and innovation as it determines, claiming ownership and excelling, and having an open and inclusive culture. They also bring an unmatched product and application engineering legacy. In the months and years to come, I’m looking forward to working with the leadership team to develop the company to its full potential, said ChrysCapital Operating Partner Sanjay Jalona.
Xoriant, which has a culture of innovation, a global presence, and more than three decades of purpose and advancement, said in a statement announcing the deal that the move ushers in a completely new stage of growth. This is ChrysCapital’s ninth fund’s second buyout and the company’s ninth acquisition of business services overall since its establishment.
