Private Equity

PE Fund Investments

KKR acquires IT Services firm Ness for $500-M

Press Release   Economic Times  

Global investor KKR, via its Asia Fund IV, is to buy 100% stake in Teaneck, NJ (USA)-headquartered Ness Digital Engineering from fellow Private Equity (PE) firm The Rohatyn Group (formerly Citi Venture Capital International) in a deal reportedly valued at over USD 500 million. Gaurav Trehan, Partner and CEO of KKR India, said in the Press Release “KKR is pleased to invest in Ness' capabilities and looks forward to working alongside its talented team to further scale Ness' digital-first platform, achieve its global ambitions, and better enable its customers to compete in the digital economy.” Founded in 1998, Ness specializes in building digital software products and platforms in the domains of Financial Services, Media, Entertainment & Education, High-Tech ISVs, and Manufacturing & Transportation. It employs over 4,000 spread across India, Eastern Europe, and the US, with around 45% of the talent pool from India.