Acquisitions in Karnataka, India

R Systems International Ltd completed the acquisition of Novigo Solutions Private Limited on November 13, 2025, following a definitive agreement announced on August 21, 2025 and receipt of regulatory approvals. R Systems acquired 100% of Novigo’s equity, making Novigo a subsidiary, to expand R Systems’ digital engineering, intelligent automation, and AI capabilities.

UST acquired Modus Information Systems Private Limited, a Bengaluru-based core banking implementation partner serving banks in India and across the Global South. The deal strengthens UST’s core banking and financial services capabilities, aligning with its Banking-as-a-Service offering (BanktrUST). Financial terms were not disclosed.

Tessolve, a semiconductor and embedded engineering services company and a Hero Electronix venture, raised a $150 million growth investment from TPG via TPG Growth. The capital will support expansion of global delivery centers and advanced test labs, increased R&D, and strategic acquisitions to broaden capabilities and geographic reach.

Mukka Proteins Ltd. acquired a majority stake in FABBCO Bio Cycle and Bio Protein Technology Pvt. Ltd. for approximately INR 60 million (about US$680,000). The deal brings FABBCO’s black soldier fly (BSF) waste-to-protein technology into Mukka Proteins’ operations, supporting expansion in large-scale organic waste diversion and sustainable animal feed and compost production, including a 300-tons-per-day facility in Bengaluru.

Kovai.co, an enterprise software and B2B SaaS company based in London (with operations in Coimbatore, India), has acquired Floik, a Bengaluru-headquartered SaaS provider. The deal is intended to enhance Kovai.co’s AI-powered knowledge management product, Document360, by integrating Floik’s interactive demos, videos, and guided walkthrough capabilities for Document360’s 2,500+ global customers.

IBM has acquired Prescinto, a provider of renewable energy asset performance management (APM) software delivered as SaaS. The deal is intended to enhance the IBM Maximo Application Suite by adding AI-driven monitoring, analytics, and automation for optimizing wind, solar, and energy storage asset operations.

Online staffing platform Instawork has acquired AbleJobs, a Bengaluru-based provider of placements and training for job seekers in India. The acquisition was announced in an Instawork blog post on 6 August, and financial terms were not disclosed.

Accenture has acquired Excelmax Technologies, a Bengaluru (Bangalore), India-based semiconductor design services provider. The deal expands Accenture’s silicon design and engineering capabilities across the chip development lifecycle, supporting client needs in areas such as consumer devices, data centers, AI/edge computing, automotive and telecommunications. Financial terms were not disclosed.

Symphony Technology Group (STG) acquired Eka Software Solutions, a commodities trade and risk management (CTRM) and commodity management software provider. STG will merge Eka into its existing portfolio company Quor Group to expand the combined CTRM software suite across commodity asset classes and end markets.

ChrysCapital-backed Xoriant has acquired Bengaluru-based cloud management solutions provider MapleLabs Inc for an undisclosed amount. The deal is intended to strengthen Xoriant’s platform engineering and cloud-native application capabilities, adding MapleLabs’ IP such as the SnappyFlow observability platform and cloud/data centre sizing tools.

Accenture has agreed to acquire and subsequently completed the acquisition of Flutura, an industrial artificial intelligence company headquartered in Bangalore, India. Flutura’s industrial data science services and AI platform will enhance Accenture’s industrial AI offerings for asset-intensive clients, including those in energy, chemicals, metals, mining, and pharmaceuticals. Financial terms were not disclosed.

Temasek signed definitive agreements to acquire an additional 41% stake in Manipal Health Enterprises (Manipal Hospitals), a pan-India hospital chain headquartered in Bengaluru. Following closing, Manipal Group will hold about 30% of MHE, while Temasek’s subsidiary Sheares Healthcare Group will retain its existing 18% stake and TPG will re-invest to hold 11% through TPG Asia VIII. National Investment & Infrastructure Fund (NIIF) will exit its investment in MHE, subject to customary regulatory approvals.

Renesas Electronics Corporation completed its acquisition of Steradian Semiconductors Private Limited on October 17, 2022. Headquartered in Bengaluru, India, Steradian is a fabless semiconductor start-up providing 4D imaging radar solutions for automotive ADAS and other sensing applications. Following the deal, Steradian became a wholly owned subsidiary of Renesas, expanding Renesas’ automotive radar product portfolio.

Warburg Pincus agreed to acquire a majority stake in Vistaar Finance, an Indian NBFC focused on lending to micro, small and medium enterprises (MSMEs). Existing shareholders WestBridge Capital, Elevar Equity, Omidyar Network India and Saama Capital are exiting as part of the transaction, which is subject to regulatory and other approvals.

Novo Holdings A/S led a $50 million investment in MedGenome, alongside existing investors LeapFrog Investments and Sofina. The financing provides Novo Holdings with a significant minority stake and includes board participation through Dr Amit Kakar (Director) and Navjeewan Khosla (Observer).

MPS Interactive Systems Limited (MPSi), a wholly owned subsidiary of MPS Limited, has completed the acquisition of E.I. Design Private Limited, an eLearning and performance support solutions provider. Aleutian Capital Group served as exclusive sell-side advisor to E.I. Design on the transaction. The deal expands MPS Interactive’s eLearning platform and content creation capabilities, market reach, and geographic footprint.

Gupshup, a conversational engagement platform provider, acquired AskSid, a Bengaluru-headquartered conversational AI company focused on ecommerce and retail. The deal strengthens Gupshup’s AI-powered conversational commerce and customer experience capabilities by adding AskSid’s full-stack retail AI solution.

TELUS International announced the acquisition of Playment, a Bangalore-based provider of data annotation and computer vision tools and services. The deal strengthens TELUS International’s AI data solutions capabilities—particularly for 2D/3D image, video, and LiDAR annotation—to support enterprise clients developing AI-powered applications across multiple verticals.

Perfios Software Solutions raised approximately USD 50 million in a Series B funding round led by an affiliate of Warburg Pincus LLC and Bessemer Venture Partners. The financing includes a primary capital infusion and the purchase of shares from early angel investors to support product innovation, international expansion, and potential acquisitions.

TPG Growth announced a $30 million investment in Solara Active Pharma, a Bangalore-based manufacturer of active pharmaceutical ingredients (APIs). The funding is intended to support Solara’s growth initiatives, including expanding capacity in regulated markets, and is expected to close in early 2019 subject to shareholder and regulatory approvals.

Capital Square Partners, a Singapore-based private equity firm, acquired close to a 55% stake in Indecomm Global Services, a Bangalore-headquartered technology-enabled services and outsourcing company. The deal was reported at approximately $90 million and provided an exit to early shareholders WestBridge Capital Partners, Tiger Global, and the International Finance Corporation (IFC).