KKR, a global investment firm, announced the signing of definitive agreements under which KKR will acquire 100% of Ness Digital Engineering (Ness), a global full-lifecycle digital services transformation company, from The Rohatyn Group (TRG).
Founded in 1998 and headquartered in Teaneck, New Jersey, Ness is a leading provider of end-to-end digital transformation services that specializes in building digital software products and platforms. Ness helps organizations envision, build, and continually evolve their digital platforms to enter new markets, capture new revenue, and gain operational efficiencies. The Company offers a wide range of digital practices that include cloud engineering, data and analytics, experience design, intelligence engineering, and salesforce for businesses across sectors. Today, 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.
Gaurav Trehan, Partner and CEO of KKR India, 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.”
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. I want to thank TRG for their consistent stewardship throughout the years. They have been great strategic partners to the management team and helped us to execute our growth strategy.”
Nicolas Rohatyn, chief executive officer and 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.” Tom Kucera, Managing Director at TRG, added “I am grateful to Ranjit, the management team and Ness’ 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.”
Ness adds to KKR’s global portfolio of technology investments, which includes, but is not limited to, Cloudera, a leading provider of enterprise-grade, hybrid data management software in the United States; Yayoi, a software developer, distributor, and support service provider for small-and-medium-sized enterprises in Japan; Probe CX, a provider of outsourced customer experience and business process outsourcing solutions in Australia; MYOB, a leading Australian online business management company; and Jio, a next-generation technology platform that provides digital services across India.
KKR makes its investment from its Asian Fund IV. Additional terms of the transaction, which is subject to customary closing conditions, were not disclosed.
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