BIZ-BAIN CAPITAL-ACQUISITION

Private equity major Bain Capital

will be acquiring a majority stake in Bengaluru-based Brillio,

a digital technology consulting and solutions company, for an

undisclosed sum.

The company is targeting to increase its revenues to

USD 500 million in the next five years, its chief executive

Raj Mamodia said without disclosing the current topline in a

statement, adding the Bain investment is crucial for achieving

the aim.

Brillio will continue to be led by the current

management team, headed by Mamodia.

It has built a suite of services that enterprises need

as they embark on their digital journeys and transform front

office and middle office functionality, it said.

Bain's managing director Pavninder Singh said his fund

has had a close relationship with Brillio's team, crediting it

for having created a disruptive business by creating an agile,

digital-first team of professionals who deliver real-time

impact for customers.

"With its focus on new age technologies, partnerships

with high-growth cloud ecosystems and a high-quality delivery

engine, we believe Brillio is well-positioned to capitalize on

digital disruption," said Samonnoi Banerjee, also a managing

director at Bain Capital Private Equity.

Bain will help the company scale up through

acquisitions and organic growth, he added.

The statement said the transaction is subject to

regulatory go-aheads and will close by first quarter of 2019.

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