Altimetrik boosts engineering services by acquiring Bengaluru-based AI firm

Altimetrik, a digital engineering solutions company based in the U.S., recently announced its acquisition of Bengaluru-based AI and data analytics firm SLK Software. The companies, both supported by the Vattikuti family, will merge to form a single entity focusing on various industries like banking, financial services, manufacturing, automotive, healthcare, retail, and technology. This strategic move is aimed at enhancing their offerings in AI-powered transformation and boosting their customer base.

The deal, which is subject to regulatory approval, is set to conclude in the latter half of 2025. While the financial details were not disclosed, both companies are optimistic about the potential synergy following the merger. The combined workforce of 12,500 professionals will work together to provide end-to-end services and drive revenue growth towards the target of $1 billion annually.

SLK Software, established in 2000, is known for its innovative digital solutions, which will complement Altimetrik’s AI-first engineering model. The integration of SLK’s technology services into Altimetrik’s portfolio will enable the company to expedite the modernization of enterprise platforms for its clients. Altimetrik’s CEO, Raj Sundaresan, emphasized the importance of AI-driven solutions for creating rapid business value, highlighting their commitment to fostering innovation and customer success.

By leveraging SLK’s global presence, customer relationships, and expertise, Altimetrik aims to deliver transformative value to its clients across diverse industries. The merger will expand the combined entity’s global clientele to over 150 businesses, including Fortune 500 companies and tech enterprises. Partnering with industry leaders like OpenAI, AWS, Snowflake, and Databricks, Altimetrik seeks to drive digital transformation by modernizing legacy systems with data and AI while ensuring compliance and security.

Raj Vattikuti, Board Member and Founder of Altimetrik, emphasized the strategic importance of the merger in enhancing their ability to solve complex business challenges efficiently. He stressed the significance of industry-specific solutions, simplifying complexity, and delivering AI-driven transformation on a larger scale. Ajay Kumar, CEO of SLK Software, echoed these sentiments, emphasizing their commitment to delivering exceptional value and measurable impact through AI-powered offerings.

The transaction was facilitated by Avendus Capital acting as the financial advisor to SLK Software and EY representing Altimetrik and TPG Capital. This acquisition comes amid a wave of consolidation in the tech industry, as companies seek to bolster their capabilities and offerings to meet the evolving needs of customers. Through the merger, Altimetrik and SLK Software aim to create a formidable synergy that will drive innovation, growth, and customer success in the digital engineering services space.