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Private equity EQT backed-Indium Software, an AI-driven digital engineering firm has acquired a majority stake in Experion, a global product engineering services company. 

By utilising Experion’s end-to-end product engineering capabilities, Indium aims to help clients across sectors such as financial services, healthcare, manufacturing, retail, automotive, and transportation. 

The acquisition’s financial details remain undisclosed. 

“The synergies and complementary capabilities of Indium and Experion will meaningfully amplify our ability to deliver superior digital and product engineering solutions to customers. We are confident of unlocking multiple new opportunities with both existing and new clients, and have set a revenue target of $150 million for the next financial year,” said Ram Sukumar, CEO and Co-founder, Indium, according to a press release.

Additionally, the acquisition will expand the Chennai-based firm’s geographic footprint and workforce to 5,000 employees globally.

Founded in 2006, Experion offers capabilities in product strategy, engineering, cognitive computing, platform engineering, and experience design. The firm helps clients design, develop, deploy, and maintain products and platforms with proprietary IP. 

“We are thrilled to be part of the EQT-Indium family, and Experion stands to benefit immensely from Indium’s market presence, diverse range of offerings and extensive experience working with global enterprises,” said Binu Jacob, CEO and Co-founder, Experion Technologies.

The company has also recorded a revenue growth of 30% CAGR over the past four years. Some of its clientele includes major enterprises in automotive, insurance, mining, and transportation industries, as well as ISVs and startups across North America, UK, Europe, Australia and Japan.

In December 2023, Hong Kong-based BPEA EQT Mid-Market Growth Fund acquired a majority stake in Indium Software from existing shareholders.