Brillio, a global digital technology consulting and solutions company, said on Tuesday Bain Capital Private Equity has agreed to acquire a majority stake in the company to further scale its digital transformation offerings.
Further financial details of the transaction were not disclosed but Brillio said in a statement it will continue to be led by its current management team headed by chief executive officer Raj Mamodia.
“In order to realise our goal of being one of the world’s leading providers of digital solutions over the next five years and achieve revenues of $500 million, this partnership is pivotal as Bain Capital has a deep understanding of our industry and holds a long-term view around the potential of digital transformation,” Mamodia said in the statement. “This is a strong validation of Brillio’s vision and strategy, and our track record of organic and acquisition-driven growth."
Since its inception, Brillio has built a full suite of services that enterprises need as they embark on their digital journeys and transform front-office and middle-office functionality.
“Within just a few years, we have garnered awards and analyst recognition for our ability to successfully manage a wide range of digital transformation engagements from design to implementation, including full-scale projects with global brands such as Verizon, FordDirect, Move, Yokohama, Coats, and EventBrite amongst several others,” said Mamodia.
Bain Capital Private Equity has a long track record of partnering with management teams of technology and digital services companies to accelerate growth. The firm’s technology investments include Bellsystem24, Waystar, Viewpoint, Blue Coat, BMC Software, Genpact, QuEST Global Services, SunGard Data Systems, and VXI.
“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 capitalise on digital disruption and look forward to partnering to help the company scale through complementary acquisitions and organic growth,” said Samonnoi Banerjee, managing director at Bain Capital Private Equity.
With Bain Capital’s support, Brillio will continue its focus on delivering digital transformation. Customers can expect an increased focus on building industry-specific capabilities and solutions in the areas of design, experience, product engineering, AI, machine learning, blockchain, cloud, and analytics that deliver differentiated digital transformation outcomes.
The transaction is subject to customary closing conditions, including requisite regulatory approvals, and is expected to close during the first quarter of 2019.
Wilson Sonsini Goodrich & Rosati is serving as legal counsel to Brillio. Kirkland & Ellis is serving as legal counsel, and PwC as accounting advisor to Bain Capital Private Equity.