Kkr buys Ness Digital for over $500 Million
- ByStartupStory | October 28, 2022
Ness Digital Engineering will be purchased by global investment firm KKR from The Rohatyn Group in a deal expected to be for USD $500 million.
The announcement read, “KKR today announced the signing of definitive agreements under which KKR will acquire 100% of Ness Digital Engineering, a global full-lifecycle provider of digital services, from The Rohatyn Group.
The deal, according to a person with knowledge of the development, is worth roughly $500 million USD. Ness, a supplier of digital transformation services with its main office in Teaneck, New Jersey, focuses on developing digital software platforms and applications.
Ness employs 4,000 people overall, with 45% of them located in Eastern Europe, the United States, and India.
Digital transformation and adoption are key business strategies for organisations of all sizes globally, according to Gaurav Trehan, Partner and CEO of KKR India.
In light of this, KKR thinks Ness is in a good position to expand. “KKR is pleased to invest in Ness’ capabilities and looks forward to working alongside its talented team to further scale Ness’ digital-first platform, achieve its global ambitions, and better enable its customers to compete in the digital economy,” Trehan said.
Ranjit Tinaikar, CEO of Ness, expressed excitement about utilising KKR’s worldwide platform and strong operational and investment skills to create more creative solutions to support our customers’ ability to stay up with the rate of digitalization required by the accelerating online economy.
Ness expands KKR’s worldwide technology investment portfolio. Among them are Cloudera, a US-based provider of enterprise-grade, hybrid data management software; Yayoi, a Japanese software developer, distributor, and support service provider for small- and medium-sized businesses; Probe CX, an Australian provider of outsourced customer experience and business process outsourcing solutions; MYOB, an Australian online business management firm; and Jio, a cutting-edge technology platform that offers digital services throughout India.
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