New Mountain Capital, a New York-based private equity fund, has acquired a significant majority stake in Accolite Digital, a cloud and digital product engineering services provider. The PE fund has invested about $225-250 million to acquire stake in Accolite, said people aware of the development.

With digital labs in Bangalore, Hyderabad, Gurugram and Chennai, the Texas-based Accolite employs more than 1,600 professionals globally. Promoted by Leela Kaza, Accolite has an estimated revenue of $100 million and an Ebitda of $25-30 million in FY21.

Founded in 2007, Accolite Digital has clients in sectors as diverse as banking and financial services, technology, healthcare, communications & media, and logistics industries.

It provides digital product engineering, cloud services, data engineering, DevOps, customer experience and design services to leading Fortune 500 customers.

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Source: The Economic Times

By Reghu Balakrishnan