Ascendion, a Basking Ridge, NJ-based provider of software engineering services, acquired Nitor Infotech, a Pune, India-based software product engineering company that leverages technologies like generative AI to build new products for clients.
The amount of the deal was not disclosed.
The acquisition will enable Ascendion to enhance competencies, expand into new markets, and offer a broader range of services to clients. Nitor Infotech brings more than 700 employees to Ascendion, and its expertise in generative AI will help the coimpany deliver innovative solutions to its clients. The acquisition also strengthens Ascendion’s focus in health-tech, retail-tech, and supply chain-tech industries through Nitor’s domain strengths and client relationships. Nitor Infotech also brings a dedicated Technology Centre of Excellence for Generative Artificial Intelligence. The Centre helps explore and deploy deep learning models, prompt engineering, reinforcement learning, and probabilistic programming to help clients capture value from AI.
Led by Sanjeev Fadnavis, CEO, Nitor Infotech is an ISV preferred software product development services company. They serve GenAI powered services and solutions for the web, cloud, data, and devices. Eith a digitalization strategy, the company builds solutions for businesses through innovative, readily deployable, and customizable accelerators and frameworks. Their seasoned domain experts provide services ensuring advanced, rapid, highly efficient development for any product design, engineering, development, testing, or deployment initiatives.
Led by Karthik (KK) Krishnamurthy, CEO, Ascendion is a provider of digital engineering services. Its applied AI, engineering, cloud, data, experience design, and talent transformation capabilities accelerate innovation for Global 2000 clients. Nitor Infotech has delivered AI and cloud engineering work to multiple clients in healthcare, retail, and other sectors. In addition to its remote/hybrid workforce, the company has more than 20 offices across the US, India, and Mexico.
FinSMEs
05/08/2023