Blackstone portfolio company R Systems has acquired Pune-based Velotio, a product engineering and digital solutions company for Rs 278.80 crore. Product engineering company R Systems said this acquisition would deepen its product engineering capabilities in the technology, media and healthcare verticals, and expand its India delivery footprint to Pune.
Velotio co-founders Kalpak Shah and Chirag Jog, and the rest of the Velotio team will join the combined business to drive its next phase of growth. With a team of over 300 engineers, Velotio combines engineering, data expertise, cloud-native and design capabilities to build innovative products for global customers.
Nitesh Bansal, managing director & CEO, R Systems, said Velotio’s deep engineering capabilities within its focus verticals complement its vertical presence and deepen its delivery capabilities in cloud, DevOps, data engineering, and generative AI. Technology Holdings acted as Velotio’s financial adviser.