Private equity firm TPG has announced a strategic move to acquire a majority stake in Altimetrik, a prominent digital business services company with operations in India and the United States.
The investment, facilitated through TPG Asia’s private equity platform, aims to strengthen Altimetrik’s market presence and propel its revenue ambitions to achieve $1 billion annually over the next three years.
Puneet Bhatia, co-managing partner and India country head at TPG Capital Asia, expressed confidence in Altimetrik’s value proposition, citing its robust methodology, engineering capabilities, and talent development initiatives as pivotal strengths aligning with TPG’s investment strategy.
Under the leadership of CEO Raj Sundaresan, supported by founder and executive chairman Raj Vattikuti and Adam Caplan, president of digital business and artificial intelligence, Altimetrik plans to leverage this partnership to drive innovation in digital business solutions and enhance customer outcomes.
TPG highlighted the global surge in digital technology and AI spending, projecting it to exceed $3.4 trillion by 2026. The investment aims to facilitate Altimetrik’s expansion into new sectors such as banking, healthcare, and insurance, leveraging its existing workforce of over 6,000 employees across global offices and development centers.
Altimetrik, with headquarters in India and a presence in Bangalore, Hyderabad, Chennai, Pune, Jaipur, and the US, is poised to capitalize on emerging opportunities in digital transformation with strategic support from TPG.