Defence-tech firm Accord Software Systems in talks with Blackstone to raise $500-M

Global private equity firm Blackstone is in talks to invest between USD 400-M and USD 500-M in Bengaluru-based defence and avionics technology company Accord Software Systems for a significant minority stake. PwC India is serving as the advisor to the transaction.Founded in 1991 by five engineers with expertise in avionics and real-time embedded systems, Accord specializes in global navigation satellite systems (GNSS). The company designs, develops, and manufactures navigation devices, specialised computer chips, and electronic systems for aircraft, satellites, and military vehicles. It plans to use the new funds to diversify into new areas and expand its product reach to a global stage.