Indian IT firms in talks to acquire UK-based Datatonic, S’pore-based Mystifly

Top and mid-sized Indian IT services and software-as-a-service (SaaS) companies are scouting for firms generating between USD 20-M and USD 60-M in annual revenue across the US, the UK, and Western Europe.Current market activity includes interest from international and Indian IT firms in acquiring stakes in London-based cloud data and AI consultancy Datatonic , and the Singapore-based platform-as-a-service firm Mystifly .These outbound acquisition efforts are intended to strengthen the acquiring companies' data analytics and artificial intelligence (AI) capabilities. Some transactions in the USD 100-M to USD 200-M valuation range are currently underway.The acquiring firms aim to gain access to new clients, specialist talent, and advanced technology stacks in the data engineering, analytics, and AI sectors. By securing these niche capabilities, the companies intend to compete for larger multi-year digital transformation and AI-led contracts.