BPEA EQT Mid-Market Growth Fund to acquire majority stake in Indium Software

BPEA EQT Mid-Market Growth Fund will acquire a majority stake in the Chennai-based Indium Software from existing shareholders for an undisclosed sum. The company’s Co-Founder, Ram Sukumar, will continue leading the firm as CEO.

The transaction is expected to close in Q1 2024, says a company release.

Indium Software has around 3,000 employees.

BPEA EQT Mid-Market Growth will support Indium in its next phase of growth, drawing on EQT Partners global experience in technology Services with about $11 bn invested in the sector in Asia, in-house digitalisation capabilities, and global network of industry experts.

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Hari Gopalakrishnan, Partner and Co-Head of BPEA EQT India, said Indium has good digital capabilities and a strong list of global blue-chip companies. “We are confident of drawing on EQT’s extensive value creation playbook in Tech Services and supporting the company on its strong growth momentum”.

Ram Sukumar, Co-founder and CEO of Indium, said that over the years, the company has embraced multiple technology shifts, and today, have become a trusted partner to several enterprises accelerating on their digital and AI journeys. “We are truly excited about welcoming EQT as our partner, and we hope to leverage their global footprint to scale our business.”

BPEA EQT Mid-Market Growth was advised by JSA, Deloitte, and PwC. Avendus Capital served as exclusive financial advisor and SAM & Co. served as legal counsel to Indium and its shareholders, the release said.