R Systems Acquires Novigo Solutions, Strengthening its Product Engineering and Full-Stack Agentic-Al Capabilities
R Systems International Limited, a global leader in digital product engineering, has entered into a definitive agreement to acquire Novigo Solutions, a specialist in low-code/no-code (LCNC) development and intelligent-automation services. The strategic acquisition creates a global digital product engineering services powerhouse with INR 20,600M (~$240M) revenue and INR 3,800M (~$45M) EBITDA, offering engineering, deployment, and management of enterprise-scale fleets of Al agents under a single, governed platform. Novigo has been growing strongly and delivered 44% revenue CAGR over the last three years with 25% EBITDA margin and healthy free cash flow. The upfront cash consideration for the transaction is INR 400 cr, with an additional stock consideration linked to future EBITDA achievement. The acquisition will be EPS accretive for R Systems since year 1.
Key Highlights
- R Systems acquires Novigo Solutions, a specialist in low-code/no-code (LCNC) development and intelligent-automation services.
- The acquisition creates a global digital product engineering services powerhouse with INR 20,600M (~$240M) revenue and INR 3,800M (~$45M) EBITDA.
- Novigo has been growing strongly and delivered 44% revenue CAGR over the last three years with 25% EBITDA margin and healthy free cash flow.
- The upfront cash consideration for the transaction is INR 400 cr, with an additional stock consideration linked to future EBITDA achievement.
- The acquisition is expected to close in the coming weeks, subject to customary closing conditions.