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.
“We are confident that New Mountain’s deep sector expertise and proven track record of building businesses will help us achieve our growth ambitions and yield significant benefits for our customers, employees and industry partners,” said Leela Kaza, founder & CEO, Accolite Digital.
Read more/Source: The Economic Times
