M&A M&A
IT services co. Xoriant acquires Latvian quality engg firm TestDevLab for $30-M
Source Business Standard (opens in a new tab)Press Release (opens in a new tab)
Xoriant, a mid-tier IT services company backed by ChrysCapital, has acquired TestDevLab , a Latvian software quality engineering firm, in a deal valued at USD 30 million. This is Xoriant's fourth acquisition in the past three years, following integrations of Fexle Services, MapleLabs, and Thoucentric.TestDevLab contributes approximately 500 employees as well as delivery centers in the Baltics and Macedonia, providing Xoriant with a stronger European market reach.