Digital business company Altimetrik announced that it has signed a definitive agreement for TPG to make a majority investment in the company.
This new partnership with TPG is a testament to Altimetrik’s differentiated approach to digital business and track record of strong organic growth. And TPG’s investment, made through its TPG Asia private equity platform, will enhance Altimetrik’s brand and support its goal of reaching $1 billion in annual revenue within the next three years.
Altimetrik established its digital business methodology (DBM) as an invaluable tool for businesses that seek sophisticated solutions to platform modernization, cloud, data, and AI that offer revenue growth and cost reduction. And its customers are served by 6,000+ employees in offices and development centers around the world. Altimetrik will continue to be led by CEO Raj Sundaresan with support from a leadership team including founder and Executive Chairman Raj Vattikuti and President of Digital Business and AI Adam Caplan.
Utilizing TPG’s global operations capabilities and deep sector expertise, the partnership will support Altimetrik’s expansion into new markets and verticals and provide additional growth opportunities for employees, increasing its capacity to deliver digital business services and capabilities. And the company will look to expand into sectors including banking, healthcare, and insurance, where businesses are prioritizing bringing modern cloud and microservices architecture to legacy industry platforms with the goal of centralizing security and compliance to address emerging risks from hackers and data breaches.
The Altimetrik DBM focuses on enterprise business growth and engages business stakeholders at a digital maturity level, prioritizing relevant use cases through a “bite-sized” approach to reduce risk. And this approach is supported by a cloud-based Digital Business Platform (DBP) within the client environment, integrating fully automated engineering environments, collaborative and end-end workflows and a SSOT (single source of truth) for GenAI/AI.
With this methodology and platform driven approach, businesses are empowered to take ownership and create reusable data and innovation assets, and new internal and market-facing platforms to drive business operations optimization and innovation growth.
Jefferies served as exclusive financial advisor to Altimetrik.
KEY QUOTES:
“This partnership will propel Altimetrik in the next step of our journey to develop further innovations for digital business and deliver business outcomes for new and existing customers. TPG has a long track record of investing in successful enterprise tech companies and their extensive capabilities that can enhance our expansion strategy as we build on the strength and visibility of our brand. With this partnership, we can focus on leading the digital business landscape and expand our reach worldwide.”
– Raj Sundaresan
“Altimetrik’s unique value proposition, combining a proven methodology with strong engineering capabilities and talent development initiatives, aligns perfectly with our investment strategy and portfolio. The company has already demonstrated a strong growth trajectory, and this investment will empower Altimetrik to expand its reach. We look forward to partnering with the founder and management team to accelerate the company’s growth.”
– Puneet Bhatia, Co-Managing Partner and Country Head, India of TPG Capital Asia
“Digital Services is a key thematic focus area for TPG, and we’re excited to partner with a truly differentiated leader in the space, to grow the company’s outstanding customer franchise and continue enhancing its leadership in advanced data and digital engineering.”
– Vivek Mohan, Managing Director at TPG
“Our business-led approach is recognized in the market and resonates with executives because they have struggled with complex digital transformation projects, keeping up with accelerated digitalization, and meeting the expectations of GenAI’s hype. Altimetrik is well-positioned to bring the power of data and a secure, compliant, scalable approach to AI. In addition to our partnership with TPG and their portfolio of companies, we will continue to build on our partner network that includes companies such as Salesforce.com, Snowflake, AWS, Azure, and additional innovators in the GenAI/AI space.”
– Raj Vattikuti, Executive Chairman
