Singapore-headquartered Xcelerate Pte Ltd. said it had acquired a controlling stake in Madurai-based Aparajitha Corporate Services Pvt. Ltd. for an undisclosed sum. Aparajitha is a leading compliance services solutions provider in India. Xcelerate said it had made the investment through its wholly owned Indian subsidiary XLSure India Pvt. Ltd. Founded by Bharat KS and Nagaraj Krishnan in 2000, Aparajitha serves more than 1,500 clients, while Xcelerate is creating a global governance, risk and compliance (GRC) platform, and is building this portfolio organically and through acquisitions.
“Aparajitha is well-poised to take its expertise and skill sets to the global markets while consolidating its position in the Indian market,” said chairman Bharath KS.
Nagaraj Krishnan, MD, Aparajitha said: “Onboarding Aparajitha on to the GRC platform being built by Xcelerate, is bound to provide Aparajitha with significant market opportunities and enable further consolidation of market share in India and overseas by offering tech-enabled high quality services.”
Madhujeet Chimni, founder, Xcelerate said: “We have found a solid partner in Aparajitha to enable us realise the vision of creating a global GRC platform offering tech-based solutions to corporates. Aparajitha is a very strong player in the Indian market, and we intend to bring together complementary products, strong domain expertise, cutting edge technologies and qualified teams to create the platform.”
