Indium, an AI-driven digital engineering company backed by the private equity firm EQT, announced on Wednesday that it has signed a definitive agreement to acquire a majority stake in Experion, a global product engineering services company with clients across North America, the United Kingdom, Europe, Australia, and Japan.
By combining Experion’s end-to-end product engineering expertise—from ideation to market launch—with Indium’s advanced data and AI capabilities, Indium is positioned to help clients across industries such as financial services, healthcare, manufacturing, retail, automotive, and transportation build transformative and scalable digital products, platforms, and solutions with compelling user experiences. This acquisition will also expand Indium’s geographic footprint and increase its headcount to approximately 5,000 employees, the company said in a statement.
Founded in 2006, Experion has strong capabilities in product strategy, engineering, cognitive computing, platform engineering, and experience design, enabling clients to design, develop, deploy, and maintain products and platforms with intellectual property. Experion’s global clientele includes large enterprise leaders in industries such as automotive, insurance, mining, and transportation. Additionally, Experion has developed mission-critical and futuristic products and platforms for new-age independent software vendors (ISVs) and start-ups. Experion’s impressive revenue growth of 30 per cent compound annual growth rate (CAGR) over the past four years underscores its position as a leader in global digital product engineering.
“The synergies and complementary capabilities of Indium and Experion will meaningfully amplify our ability to deliver superior digital and product engineering solutions to customers. We are confident of unlocking multiple new opportunities with both existing and new clients and have set a revenue target of $150 million for the next financial year,” said Ram Sukumar, chief executive officer (CEO) and co-founder, Indium. “We are incredibly excited to welcome the Experion team to our family, and we look forward to further strengthening our culture of engineering excellence, coupled with exceptional customer experience.”
“We are thrilled to be part of the EQT-Indium family, and Experion stands to benefit immensely from Indium’s market presence, diverse range of offerings, and extensive experience working with global enterprises,” said Binu Jacob, CEO and co-founder, Experion. “Our journey at Experion has been one of empowering clients with transformative digital solutions, and our product engineering expertise has been at the heart of that success. Partnering with Indium will not only enhance our AI-driven engineering capabilities but also unlock synergies and scale our solutions to a broader global audience, building on our shared values of integrity, innovation, and customer centricity.”
First Published: Oct 16 2024 | 5:32 PM IST