R Systems International Limited has announced the acquisition of Novigo Solutions, enhancing its capabilities in low-code/no-code development and intelligent automation services to address the evolving demands of the digital solutions market.

Information on the Target

R Systems International Limited has announced its intention to acquire Novigo Solutions, a specialized firm in low-code/no-code (LCNC) development and intelligent automation services. Based in Mangalore, India, Novigo Solutions has demonstrated significant growth, achieving a revenue compound annual growth rate (CAGR) of 44% over the past three years. The company generates approximately INR 20,600 million (around $240 million) in revenue with an EBITDA of INR 3,800 million (approximately $45 million), complemented by a solid 25% EBITDA margin and robust free cash flow.

This acquisition positions R Systems to enhance its presence in the global digital product engineering landscape, merging expertise in enterprise-scale AI agent management under a single platform. The transaction entails an upfront cash consideration of INR 400 crore, alongside a future stock consideration linked to EBITDA performance, suggesting a mutually beneficial financial arrangement.

Industry Overview in India

The digital solution industry in India has undergone transformative growth, propelled by advancements in technology and an increasing demand for digital transformation across various sectors. Companies are allocating substantial portions of their IT budgets toward automation solutions, includ