US-headquartered Altimetrik, an artificial intelligence (AI), data, and digital engineering solutions company, has completed its acquisition of Bengaluru-based SLK Software, a global technology services firm known for its focus on AI, intelligent automation, and analytics.
ET had first reported the potential acquisition in June. While the deal amount has not been disclosed, sources had earlier indicated that SLK Software was acquired for around $600 million (Rs 5,100 crore).
As of June, Altimetrik employed over 6,000 professionals, with more than 80% of its workforce based in India. Following the acquisition, the combined entity will have over 10,000 professionals across over 17 countries, serving more than 150 global clients, including several Fortune 500 companies.
“I am thrilled to officially welcome the SLK team to Altimetrik. Completing this acquisition marks a pivotal milestone that is about more than scale; it is about helping businesses grow responsibly in an AI-first world by reshaping how they harness AI to drive real, measurable impact,” said Raj Sundaresan, CEO of Altimetrik.
In February, ET was the first to report that several IT firms, including Mphasis, Hexaware Technologies, and TPG-owned Altimetrik, were competing to acquire SLK.
TPG, which acquired a 60% stake in Altimetrik last year from Indian-American tech entrepreneur Raj Vattikuti at a valuation of $1.5 billion (Rs 12,500 crore), continues to play a key role in the company’s growth.
Commenting on the development, Vivek Mohan, business unit partner at TPG Capital Asia and board member at Altimetrik, said, “This is a significant milestone in our investment journey, at a time when AI continues to act as a transformative source in today’s evolving business landscape, reshaping how companies operate, compete and grow.”
ET had first reported the potential acquisition in June. While the deal amount has not been disclosed, sources had earlier indicated that SLK Software was acquired for around $600 million (Rs 5,100 crore).
As of June, Altimetrik employed over 6,000 professionals, with more than 80% of its workforce based in India. Following the acquisition, the combined entity will have over 10,000 professionals across over 17 countries, serving more than 150 global clients, including several Fortune 500 companies.
“I am thrilled to officially welcome the SLK team to Altimetrik. Completing this acquisition marks a pivotal milestone that is about more than scale; it is about helping businesses grow responsibly in an AI-first world by reshaping how they harness AI to drive real, measurable impact,” said Raj Sundaresan, CEO of Altimetrik.
In February, ET was the first to report that several IT firms, including Mphasis, Hexaware Technologies, and TPG-owned Altimetrik, were competing to acquire SLK.
TPG, which acquired a 60% stake in Altimetrik last year from Indian-American tech entrepreneur Raj Vattikuti at a valuation of $1.5 billion (Rs 12,500 crore), continues to play a key role in the company’s growth.
Commenting on the development, Vivek Mohan, business unit partner at TPG Capital Asia and board member at Altimetrik, said, “This is a significant milestone in our investment journey, at a time when AI continues to act as a transformative source in today’s evolving business landscape, reshaping how companies operate, compete and grow.”
