KUALA LUMPUR, March 27 -- TA Associates, a leading global growth private equity firm has completed a strategic growth investment to join Basil Technology Partners as an investor in Accion Labs (Accion), a digital-focused software product engineering company.
According to a statement, the financial terms of the transaction were not disclosed.
Accion’s expertise ranges across advanced UX, artificial intelligence and machine learning, big-data/analytics, migration to cloud/SaaS and re-engineering of legacy platforms, process automation, mobility, augmented reality and IOT.
“Spending in the digital engineering market is being driven by technology and business model innovations, growth in technology companies, including start-ups, and the emergence of a global digital ecosystem,” said TA Associates Advisory Private Limited managing director, Dhiraj Poddar.
“With its innovative and solutions-driven approach, we believe that Accion is well-positioned to continue capitalising on these trends and further grow its market share in this vibrant industry.”
“We welcome the opportunity to work with TA, leveraging their deep US market experience to help scale Accion organically and through M&A,” said Basil Technology Partners chief executive officer & partner, Sameer Kanwar.
Aditya Sharma, Principal at TA Associates Advisory Private Limited and Poddar will join the Board of Directors of Accion Labs.
More details at www.ta.com.
-- BERNAMA
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