Digital business company Altimetrik has signed a definitive agreement to acquire technology services firm SLK Software.

With the acquisition, Altimetrik will seek to improve its end-to-end enablement services and broaden its customer base, aligning with its goal of reaching $1bn in annual revenue.

The financial details of the deal were not divulged. However, The Economic Times reported that the transaction is valued at around $600m.

Founded in 2000, SLK Software focuses on delivering AI, intelligence automation and analytics solutions. The acquisition is expected to bolster Altimetrik's capabilities by integrating its AI-first, platform-native engineering model with SLK's technology services stack.

Altimetrik CEO Raj Sundaresan said: “To enable an AI-First business a robust data cloud infrastructure that is grounded in product and platform engineering rigor is crucial.

“Our investment in SLK reflects our intention to deepen our commitment to customers who are looking for digital, AI-driven solutions that enable business value creation at unparalleled speed and scale.”

The transaction is expected to close in the second half of this year, subject to customary closing conditions.

Upon completion, the combined entity will serve more than 150 global businesses, including Fortune 500 companies. The partnership will encompass a network with industry pioneers such as OpenAI, Amazon Web Services, Snowflake, and Databricks.

The combined firm will have a headcount of more than 10,000 professionals worldwide.

SLK Software founder and chairman Parth Amin said: “This is not a traditional integration. It is a strategic acceleration.

“In Altimetrik, we’ve found a partner who shares our values of customer intimacy, people centricity, and a passion for innovation and agility. Together we will unlock greater capabilities for our clients while preserving the speed and responsiveness they trust us for.”

Avendus Capital served as the exclusive financial advisor to SLK Software, while EY advised Altimetrik and its majority owner TPG.

"Altimetrik to acquire SLK Software" was originally created and published by Verdict, a GlobalData owned brand.

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