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Infogain Announces Ownership Transition From ChrysCapital to the Apax Funds

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LOS GATOS, Calif.--(BUSINESS WIRE)--Infogain, a Silicon Valley-based leader in human-centered digital platform and software engineering services, today announced its PE ownership will change hands, from ChrysCapital to funds advised by Apax (the "Apax Funds"). Apax is a leading global private equity advisory firm with significant experience investing in technology companies. ChrysCapital is a leading Indian private equity advisory firm with a successful track record of investing in information technology and business services. The new ownership will enable Infogain to broaden its solution offerings, pursue strategic acquisitions, expand into new geographies, and accelerate the expansion of its employee base.

Infogain's Chief Operating Officer, Ayan Mukerji, will become Chief Executive Officer. Ayan joined Infogain in 2018 and will assume CEO position.

Sunil Bhatia, outgoing CEO of Infogain, said, "It was a great pleasure to have built an organization that is recognized among the Global Top 50 engineering services providers.1 It has been a privilege to work alongside a world-class team to serve our customers, without whom none of this would have been possible. I wish Ayan and Infogain all the very best for the future."

"I'd like to thank Sunil for his leadership during his tenure as CEO, and it was also great being part of the platform ChrysCapital built out over the past few years," said Ayan. "We welcome our new relationship with Apax to support Infogain's growth strategy."

He continued, "Apax's support will help supercharge our growth, organically and through new strategic acquisitions. We will leverage opportunities to deepen and diversify our service offerings to support our clients' – and our own – transformation journeys."

"We are grateful for the opportunity we had to build a fast-growing cutting edge digital platform services organization. Infogain was ChrysCapital's pioneering initiative in the US that got bolstered with multiple strategic acquisitions. I wish Apax all the best in their future with Infogain," said Akshat Babbar, Vice President at ChrysCapital.

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Shashank Singh, Partner at Apax, said, "Digital engineering and technological excellence continue to be key competitive advantages across industries, and Infogain, with its platform strategy and highly talented team, is exceptionally well placed to help drive innovation and support its customers in developing differentiated human-centered solutions. We are excited to partner with Ayan and the team to support them and their customers in this next phase of growth."

Rohan Haldea, Partner at Apax, added, "Digital transformation and software engineering services have been key areas of focus for the Apax Funds over the last decade, underpinned by multiple successful investments. We're excited to bring our experience in the space to the team at Infogain and to accelerate their expansion and investment in capabilities that enhance their global platform, delivering ever greater value for customers."

By helping customers achieve human-centered digital platform success through its Value Delivery Framework, Infogain has more than doubled its revenue in the last three years. Its global team now numbers close to 5,000. The company has upgraded its engineering expertise and added significant digital capabilities in cloud, experience design, and analytics.

Infogain's Chief Delivery Officer, Eddie Chandhok added, "Our success continues to be driven by our team members, who work on mission critical projects that enable customer success and help deliver significant value to our clients on a global scale. The company is especially focused on delivery excellence, a testament to which is its 73% net promoter score achieved in the previous fiscal year."

Infogain was advised by Credit Suisse (financial advisor). Wilson, Sonsini, Goodrich & Rosati served as the legal counsel to Infogain in the United States, Shardul Amarchand Mangaldas & Co. as the legal counsel in India, and E&Y as the financial and tax advisor.

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About Infogain

Infogain is a human-centered digital platform and software engineering company based out of Silicon Valley. We engineer business outcomes for Fortune 500 companies and digital natives in the technology, healthcare, insurance, travel, telecom and retail/cpg industries using technologies such as cloud, microservices, automation, IoT, and artificial intelligence. We accelerate experience-led transformation in the delivery of digital platforms. Infogain is also a Microsoft (NASDAQ: MSFT) Gold Partner and Azure Expert Managed Services Provider (MSP).

Infogain, a ChrysCapital portfolio company, has offices in California, Washington, Texas, the UK, the UAE and Singapore, with delivery centers in Seattle, Houston, Austin, Kraków, Noida, Bengaluru, Pune, Gurgaon, and Mumbai. To learn more, visit www.infogain.com.

About Apax

Apax Partners LLP ("Apax") is a leading global private equity advisory firm. For nearly 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit www.apax.com.

About ChrysCapital

Founded in 1999, ChrysCapital is one of the largest and most successful India-based investment advisory firms. The firm has raised $4 billion across eight funds which are consistently ranked in the top decile of global private equity funds of similar vintage. ChrysCapital has made almost 100 investments across a variety of sectors and has extensive experience in technology services with investments like LiquidHub, GeBBS Healthcare, QuEST Global, Mphasis, Hexaware, HCL Technologies, Infosys and Spectramind. For further information about ChrysCapital, please visit www.chryscapital.com.

1 Everest Group Engineering Services Providers Top 50 2021
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