Mumbai: NSEIT Limited has acquired a majority stake in an integrated multi-cloud managed services provider Cloudxchange.io. NSEIT is an IT solutions provider and a wholly-owned subsidiary of NSE (National Stock Exchange of India).
This is NSEIT’s second major acquisition after it acquired Aujas Cybersecurity Ltd. In 2019.
With this strategic move, NSEIT will able to add new cloud offerings from Cloudxchange.io to its digital solution portfolio and serving enterprise customers with a complete digital transformation suite. NSEIT will offer end to end digital transformation solutions ranging from cloud to security.
Amid the pandemic, there’s has been a massive surge in the demand for cloud services globally and the adoption of cloud has increased many folds, as per reports. In fact, in India, 63% of enterprises have increased investments in the hybrid cloud compared to the global average of 46% as per the Nasscom report.
Founded in 2016, Cloudxchange.io has established itself as an integrated multi-cloud managed services provider (MSP), catering to enterprise customers with AWS, Azure, Google and Oracle Cloud.
It has expanded its offerings to cloud consulting, multi-cloud aggregation, cloud back-up and disaster recovery (DR), DevOps as a service and unified managed services. With over 250 enterprise clients across sectors including BFSI, manufacturing, logistics and government, the company has achieved 5x growth in just five years.
“With Cloudxchange.io’s addition to NSEIT’s digital portfolio, NSEIT team will be poised to serve the growing demands of the financial services sector. NSE Group’s mission has been to support the growth of the financial services sector and through NSEIT, we aim to diversify into emerging technologies and create a niche positioning for NSEIT,” said Vikram Limaye, MD and CEO – NSE.
“The Cloudxchange.io acquisition will give us an edge to provide an integrated solution by offerings cloud transition, knowledge driven digital transformation solution along with embedded cybersecurity,” commented Dr. N Muralidharan, CEO & MD – NSEIT.
“We are delighted and privileged to align our journey with the NSE group. Association with NSEIT will give us the platform and reach to expand further into domestic and international markets. As we simplify the cloud journey for our clients, we too accelerate our growth,” Vishal Chandane, Neelesh Kankane and Nilesh Rane, Co-Founders of Cloudxchange said in a joint statement.