California-based Xoriant, a software engineering and digital services company backed by Indian private equity firm ChrysCapital, on Thursday said it has acquired Bengaluru-headquartered technology-solutions provider MapleLabs Inc.
The company, however, did not disclose the financial terms of the transaction.
The acquisition is poised to enhance Xoriant’s core strengths in platform engineering, bolstering capabilities in product ideation, design, and development, and solidify the company’s position in maintaining complex, cloud-native applications, it said.
“Integrating MapleLabs into Xoriant represents a significant step in our mission to lead the digital engineering space,” said Sukamal Banerjee, chief executive officer of Xoriant. “This expansion adds to our ability to deliver innovative solutions for complex engineering demands of our global clients.”
Xoriant customers will benefit from the inclusion of MapleLabs IPs, particularly SnappyFlow, an observability/ platform and cloud/datacenter sizing tools. These tools aim to optimize cloud performance and enhance overall customer experience.
“Joining forces with Xoriant will provide a larger global platform for MapleLabs IPs to grow and scale,” said Sreeni Potluri, co-founder, head of sales and business development, MapleLabs
This acquisition follows Xoriant’s previous strategic moves, including the acquisition of Thoucentric in August last year.
ChrysCapital had acquired a controlling stake in Xoriant eight months earlier, with plans to boost the company’s revenue to $800 million over the next five to seven years at an annual growth rate exceeding 20%.
MapleLabs, founded a decade ago as a specialized product engineering firm serving Fortune 500 clients in the hi-tech industry, brings a team of over 300 consultants. The company specializes in hybrid cloud infrastructure, cloud-native engineering, site reliability engineering, and observability, leveraging cutting-edge technologies.
Xoriant provides digital product engineering, software development, and technology services to its customers. The company was started in 1990 as TekEdge by Girish Gaitonde. It has offices in the US, Europe, and Asia.
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Published: 22 Feb 2024, 06:09 PM IST