ChrysCapital, a local private equity firm, announced on Thursday that it has acquired a controlling stake in software engineering and digital services platform Xoriant for an undisclosed sum.

The transaction is ChrysCapital’s second buyout from its ninth fund, which was raised in 2022 for $1.4 billion. It invested in IDFC AMC last year alongside Bandhan Financial Holdings and Singapore’s sovereign fund GIC.

The company is headquartered in Sunnyvale, California. Customers can rely on Xoriant for digital product engineering, software development, and technology services. Girish Gaitonde founded the company as TekEdge in 1990. It has branches in the United States, Europe, and Asia.

ChrysCapital, based in New Delhi, was founded in 1999 and invests in technology services, financial services, pharmaceuticals, and consumer services. It has raised more than $5 billion in nine funds.

The private equity firm has made approximately 100 investments in a variety of sectors, including Infogain, LiquidHub, GeBBS Healthcare, QuEST Global, Mphasis, Hexaware, HCL Technologies, Infosys, and Spectramind.

Xoriant’s clients range from startups to Fortune 100 companies in industries such as banking, financial services and insurance, high tech, healthcare, pharma, industrial manufacturing, and retail. It employs more than 5000 people worldwide. EY served as ChrysCapital’s financial and tax advisor, while Avendus Capital served as Xoriant’s sole financial advisor on this transaction.

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