Kohlberg Kravis Roberts & Co (KKR), a US-based global private investment company, has signed a definitive agreement to acquire 100% shares of Ness Digital Engineering from the Rohatyn Group.
The acquisition was made through KKR’s Asian Fund IV, and additional terms of the transaction were not disclosed.
Headquartered in Teaneck, New Jersey, Ness is an end-to-end digital transformation service provider that provides a wide range of digital services, including cloud engineering, data and analytics, experience design, intelligence engineering, and salesforce for businesses across sectors.
Ness has a presence in North America, Europe, the Middle East, and Asia, with a globally diversified talent pool across India, Eastern Europe, and the United States.
Commenting on the acquisition, Gaurav Trehan, Partner & CEO of KKR India has said, “Digital transformation and adoption is a critical strategy for businesses of all sizes worldwide against this backdrop, KKR believes that Ness is well-positioned for growth, supported by its exceptional, experience-led product engineering heritage.”
“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,” Gaurav added.
Speaking on the investment Ranjit Tinaikar, CEO of Ness, said, “We are thrilled to welcome an investor of KKR’s caliber in Ness. We believe this transaction will help us turbocharge our growth plans and further strengthen our competitive market position.”
“We look forward to leveraging KKR’s global platform and strong investment and operational expertise to deliver more innovative solutions to help our customers keep up with the pace of digitalization required by the accelerated online economy,” he added.
Adding to the statement, Nicolas Rohatyn, CEO & Founder of The Rohatyn Group, said, “We are proud to have tapped into TRG’s technology services expertise and extensive global experience to help Ness become a unique, global leader in the digital space. We wish the Company the best in its next chapter.”
“I am grateful to Ranjit, the management team, and Ness’s more than 4,000 employees for their partnership, dedication, and support over the years. It has been a privilege working closely with them to build Ness into a premier digital transformation platform and I wish them continued success,” Tom Kucera, Managing Director at TRG further added.