Ascendion has announced the acquisition of Nitor Infotech, a software product engineering company that leverages disruptive technologies like generative artificial intelligence (AI) to build new products for clients.
The acquisition is a step in Ascendion’s growth strategy to enhance competencies, expand into new markets, and offer a broader range of services to clients. Nitor Infotech brings more than 700 employees to Ascendion, and its expertise in generative AI will help Ascendion deliver even more innovative and cutting-edge solutions to its clients. The acquisition also strengthens Ascendion’s focus in health-tech, retail-tech, and supply chain-tech industries through Nitor’s domain strengths and client relationships.
Commenting on the acquisition, Karthik (KK) Krishnamurthy, chief executive officer (CEO), Ascendion, said, “Ascendion’s acquisition of Nitor Infotech is our latest step as a leader in using the power of software to drive client productivity and growth. Nitor Infotech is a natural fit with Ascendion because we are aligned around software engineering, real-world generative AI solutions, and digital innovation. Both companies have engineering in our DNA, a strong focus on innovation related to AI, and a relentless focus on client allyship. Coming together strengthens our engineering power, unlocks new markets and talent pools, and grows our capabilities in serving software product-focused companies.”
Nitor Infotech is already helping around 60 clients innovate and grow revenue by creating and improving digital products with software engineering and technology advisory. Nitor Infotech also brings a dedicated technology centre of excellence for generative AI. The centre helps explore and deploy deep learning models, prompt engineering, reinforcement learning, and probabilistic programming to help clients capture value from AI. Nitor Infotech has delivered AI and cloud engineering work to multiple clients in healthcare, retail, and other sectors.
Meanwhile, Sanjeev Fadnavis, CEO, Nitor Infotech, said, “We are delighted to become an Ascendion company. Ascendion is a modern software engineering leader with a strong culture and values that align perfectly to what we have built in Nitor Infotech. Joining Ascendion will add to our capabilities to serve clients with an expanded value proposition. Together we have the opportunity to lead the product engineering world through the power of GenAI enabled technology.”