New Jersey, USA-based provider of software engineering services, Ascendion acquired Pune, India-based, a software product engineering company that leverages disruptive technologies like generative AI to build new products for clients, Nitor Infotech.
The company announced the acquisition on August 4, 2023. However, it did not disclose the amount of the acquisition.
Purpose of acquisition by Ascendion
The acquisition aligns with Ascendion’s growth strategy to enhance competencies, expand into new markets, and offer a broader range of services to clients.
Nitor Infotech brings more than 700 employees to Ascendion. In addition, the former’s expertise in generative AI will help Ascendion to deliver even more innovative and cutting-edge solutions to its clients.
The acquisition further strengthens Ascendion’s focus in health-tech, retail-tech, and supply chain-tech industries via Nitor’s expertise, strengths and client relationships.
What the Ascendion official has to comment
Karthik (KK) Krishnamurthy, CEO of Ascendion, further said, “Ascendion’s acquisition of Nitor Infotech is our latest step as a leader in using the power of software to drive client productivity and growth. Nitor Infotech is a natural fit with Ascendion. We are aligned around software engineering, real-world generative AI solutions, and digital innovation. Both companies have engineering in their DNA, a strong focus on innovation related to AI, and a relentless focus on client allyship. Coming together strengthens our engineering power. It further unlocks new markets and talent pools, and grows our capabilities in serving software product-focused companies.”
What the Nitor Infotech official has to comment
In addition, Sanjeev Fadnavis, CEO of Nitor Infotech, said, “We are delighted to become an Ascendion company. Ascendion is a modern software engineering leader with a strong culture and values that align perfectly with what we’ve built in Nitor Infotech. Joining Ascendion will add to our capabilities to serve clients with an expanded value proposition. Together we have the opportunity to lead the product engineering world through the power of GenAI-enabled technology.”
About Nitor Infotech
Chandrashekhar Eknath Potnis launched Nitor Infotech in 2006. The company operates as an ISV-preferred software product development services provider. It offers cutting edge GenAI powered services and solutions for the web, cloud, data, as well as devices. Nitor Infotech’s consulting-driven value engineering approach makes it the right fit to be an agile and nimble partner to organizations on the way to digital transformation. Nitor Infotech builds disruptive solutions for businesses through innovative, readily deployable, and customizable accelerators and frameworks. The company’s domain experts offer top-notch services ensuring advanced, rapid, highly efficient development for any product design, engineering, development, testing, or deployment initiatives.
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