The pace of tech sector mergers and acquisitions is picking up, with tech deals making a strong showing this month.
The number of mergers and acquisition in software and tech-enabled services looks set to increase by around 3% in 2024, based on deal numbers.
That’s according to figures from investment bankers R.L. Hulett, which notes that with some of the biggest companies in play recently acquired, buyers are now looking for deals in the middle market.
Some of those deals involve tech and AI startups. There are plenty out there, although few of them (yet) have risen to the stratospheric valuations of OpenAI or Anthropic — and companies including Microsoft, Google, and AWS are looking to snap many of them up, bringing their expertise in house before they become a competitive threat.
Along these lines, today Ness Digital Engineering (Ness), a global full-lifecycle digital services transformation company, announced the acquisition of Raja Software Labs (RSL), a specialist in developing and enhancing high-volume mobile and web applications for leading technology customers.
The acquisition strengthens Ness’s data and product engineering capabilities, particularly in the Technology, Media, and Telecom (TMT) sector, where Fortune 1000 clients trust Ness to boost revenue, create competitive advantages, and improve efficiencies.
Said Dr. Ranjit Tinaikar, CEO of Ness Digital Engineering, “The acquisition of RSL is complementary to Ness’s product engineering DNA and strengthens our TMT vertical. Ness will build on RSL’s expertise in mobile app development, IoT, and web front-end technologies.”
“We are excited to welcome this talented team to Ness and look forward to expanding on RSL’s Silicon Valley presence to deliver even greater value to our Technology and ISV clients,” added the executive.
Ness has long been a pioneer in intelligent engineering, combining data, processes, and AI to drive the next generation of product engineering. The acquisition of RSL strengthens this foundation and adds specialized expertise in mobile app development.
With the acquisition, Ness is set to expand its capabilities, delivering world-class solutions to software product companies around the globe, according to the organization’s press release.
Added Raja Venkataraman, CEO at RSL, “We are excited to join Ness. Ness’s global presence, digital and cloud capabilities, and deep industry expertise will allow us to deepen our relationships and expand our range of offerings to our client base.”
Featured photo of Dr. Ranjit Tinaikar, CEO of Ness Digital Engineering
