Ascendion, a prominent provider of software engineering services, has announced the acquisition of Nitor Infotech, a leading software product engineering company at the forefront of disruptive technologies like Generative AI. This strategic move is part of Ascendion’s ambitious growth strategy to bolster its competencies, venture into new markets, and extend a broader spectrum of services to its clients. By adding Nitor Infotech to its portfolio, Ascendion gains access to a talented workforce of more than 700 employees and leverages their expertise in Generative AI to offer even more innovative and cutting-edge solutions to its valued clients.
The acquisition also opens up new avenues for Ascendion in the Health-tech, Retail-tech, and Supply chain-tech industries, thanks to Nitor’s domain strengths and existing client relationships in these sectors. This synergy of strengths is expected to create a stronger and more comprehensive presence in the market, catering to the needs of software product-focused companies and fueling their growth and productivity.
Karthik (KK) Krishnamurthy, the CEO of Ascendion, expressed his enthusiasm for the acquisition, stating, “Ascendion’s acquisition of Nitor Infotech is our latest step as a leader in utilizing the power of software to drive client productivity and growth.” He highlighted how the two companies align perfectly in their focus on software engineering, real-world Generative AI solutions, and digital innovation. Both Ascendion and Nitor Infotech share a common DNA of engineering excellence and a relentless dedication to client success, making the integration a natural fit.
Nitor Infotech, prior to the acquisition, was already making significant strides in the industry by assisting around 60 clients in innovating and boosting their revenue through the creation and enhancement of digital products, aided by software engineering and technology advisory services.
In addition to a highly skilled workforce, Nitor Infotech brings with it a dedicated Technology Centre of Excellence for Generative Artificial Intelligence. This Centre serves as a hub for exploring and implementing deep learning models, prompt engineering, reinforcement learning, and probabilistic programming. The aim is to help clients unlock the full potential of AI and derive tangible value from it. Nitor Infotech’s track record in delivering AI and cloud engineering solutions to multiple clients in healthcare, retail, and other sectors further strengthens Ascendion’s position as a leader in the software engineering domain.
The CEO of Nitor Infotech, Sanjeev Fadnavis, praised Ascendion’s modern leadership in software engineering and highlighted how the two companies share a strong culture and values. Joining forces with Ascendion will allow Nitor Infotech to expand its value proposition and better serve its clients. Together, the two companies are poised to lead the product engineering world, harnessing the transformative power of GenAI enabled technology.