Posted by Bengaluru: Altimetrik, a pure-play AI, digital and data engineering solutions firm, has announced a deal to acquire SLK Software, a technology services provider specialising in AI, automation, and analytics. The move is part of Altimetrik’s broader strategy to grow its footprint in the AI and digital transformation space, with an eye on reaching $1 billion in annual revenue.
Altimetrik to acquire SLK Software
The acquisition, which is expected to close later this year pending regulatory approvals, will combine the strengths of both companies. SLK’s full-service technology offerings and existing customer relationships will complement Altimetrik’s focus on AI-driven solutions. Together, the companies plan to offer a wider range of digital services to global clients.
Founded in 2000, SLK Software brings a sizable presence in the enterprise technology space and has longstanding partnerships with Fortune 500 companies. The merged entity will have over 10,000 employees and serve more than 150 businesses across industries including finance, pharmaceuticals, manufacturing, and technology.
Altimetrik CEO Raj Sundaresan said,”Our investment in SLK reflects our intention to deepen our commitment to customers who are looking for digital, AI-driven solutions that enable business value creation at unparalleled speed and scale.”
SLK Founder and Chairman Parth Amin called the deal a “strategic acceleration.” “In Altimetrik, we’ve found a partner who shares our values of customer intimacy, people centricity, and a passion for innovation and agility,” said Amin.
Ajay Kumar, CEO of SLK Software added, “SLK’s customer-first approach has led to building offerings powered by AI to deliver outstanding results for our clients. As a combined entity, SLK and Altimetrik are now set to unlock exceptional value and drive measurable impact at scale for our clients.”
The company also plans to deepen its ties with key cloud and AI platforms, including partnerships with OpenAI, AWS, Snowflake, and Databricks.
Private equity firm TPG, a major backer of Altimetrik, said the merger fits with its investment approach of supporting firms leading in data and AI. Financial terms of the deal were not disclosed.
Advisors on the deal included Avendus Capital for SLK Software and EY for Altimetrik and TPG.