PE Fund Investments
True North acquires minority stake in digital engg co Accion for $93-M
Private Equity firm True North has invested USD 93 million in Bangalore- and Pittsburgh, USA-based digital engineering company Accion Group. True North has routed this transaction through its Indium VI (Mauritius) Holdings fund. The minority stake is being acquired from fellow PE investor TA Associates. TA Associates, along with Basil Technology Partners, a Singapore-based specialist technology investor, had picked up a stake in Accion Labs in March 2020. Accion focuses on digital transformation in global enterprises and technology firms. The company's offerings include Digital Consulting, Innovation & Digital Product Engineering, Data/ML Engineering and Automation. It has more than 4,800 employees globally, spread over 20 locations.
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