US-headquartered consulting and IT services firm Xoriant, backed by private equity firm ChrysCapital, has announced its second acquisition with 100% stake purchase in Bengaluru-based specialized product engineering firm MapleLabs Inc to focus on hybrid cloud infrastructure and cloud-native engineering.
The financials of the deal remained undisclosed.
“This strategic acquisition will augment Xoriant’s core strengths in the areas of platform engineering, and add to its capabilities in product ideation, design and development and maintenance of complex, cloud-native applications. Xoriant’s customers will now be able to leverage MapleLabs IPs – SnappyFlow, an observability platform and Cloud/Datacenter sizing tools to optimize their cloud performance and deliver better customer experience,” Xoriant said in a statement.
Founded in 2014, MapleLabs has over 300 consultants serving fortune 500 clients in the hi-tech industry and brings a strong focus on hybrid cloud infrastructure and cloud native engineering, including Site Reliability Engineering (SRE) and observability, leveraging its expertise in platforms and cutting-edge technologies.
“Integrating MapleLabs into Xoriant represents a significant step in our mission to lead the digital engineering space. This expansion adds to our talented engineering team with highly skilled and experienced engineers, further strengthening our ability to deliver innovative solutions for complex engineering demands of our global clients,” said Sukamal Banerjee, CEO of Xoriant.
Pramod Murthy, cofounder, Head of Products and Solutions, MapleLabs, added,” We are excited to embark on this journey together, and our focus on innovation and our ability to solve complex engineering problems solutions will help drive the digital engineering agenda of our clients.”
Consulting and IT services provider Xoriant provides services and solutions focused on digital product engineering, cloud infrastructure and operation across sectors like BFSI, high tech, healthcare, pharma, industrial manufacturing, retail, telecommunications and automotives.
The synergy between Xoriant’s product engineering DNA and MapleLabs’ specialized skills will deliver a new level of innovation and efficiency to clients, particularly in the development of cutting edge, high performance digital engineering solutions, the statement added.
In January 2023, India focused private equity player Chryscapital had acquired majority stake in US-based Xoriant for $250 million. Since then, this is the second acquisition to expand its technology offerings following Bengaluru-based consulting firm Thoucentric in August 2023.
Since the acquisition, Xoriant has been hiring several senior leadership executives including HCLTech’s former corporate VP Sukamal Banerjee as its new CEO in March last year. Last year, it also appointed Wipro’s Nithin Jaganmohan as its chief financial officer and former chief digital officer of Tata Technologies, Abhijit Deokule as Xoriant’s chief operating officer.
Last month, ET reported Xoriant’s appointment of former LTIMindtree executive Mukund Rao as its president for global markets.
Source: Economic Times