Private equity major Bain Capital will be acquiring a majority stake in Bengaluru-based Brillio, a digital technology consulting and solutions company, for an undisclosed sum.
The company is targeting to increase its revenues to USD 500 million in the next five years, its chief executive Raj Mamodia said without disclosing the current topline in a statement, adding the Bain investment is crucial for achieving the aim.
Brillio will continue to be led by the current management team, headed by Mamodia.
It has built a suite of services that enterprises need as they embark on their digital journeys and transform front office and middle office functionality, it said.
Bain's managing director Pavninder Singh said his fund has had a close relationship with Brillio's team, crediting it for having created a disruptive business by creating an agile, digital-first team of professionals who deliver real-time impact for customers.
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"With its focus on new age technologies, partnerships with high-growth cloud ecosystems and a high-quality delivery engine, we believe Brillio is well-positioned to capitalize on digital disruption," said Samonnoi Banerjee, also a managing director at Bain Capital Private Equity.
Bain will help the company scale up through acquisitions and organic growth, he added.
The statement said the transaction is subject to regulatory go-aheads and will close by first quarter of 2019.
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