NuSummit plans expansion in Asia Pacific, Western Europe to fuel growth

Investcorp-backed NSEIT, renamed NuSummit, aims to expand its international business into the Asia Pacific and Western Europe, and will not hesitate from using M&A as a growth currency, executives said. NSEIT, the digital technology business of National Stock Exchange (NSE), was fully acquired by Bahrain-based Investcorp in April this year for Rs 1,000 crore.

The deal excluded the digital examinations business housed under NSE, which was reportedly in talks to be acquired by another private equity firm Gaja Capital.

“We completed all the proceedings in September (acquisition by Investcorp). We existentially are working with 22 Fortune-500 companies. The idea now is basically to exponentially scale out on that and become extremely relevant to a global audience and a clientele,” its CEO Anantharaman Sreenivasan told ET.

The technology services firm currently has around 60% of its revenues coming from India with operations also in North America and Middle East. Sreenivasan says the company aims to bring in more international business by foraying into Asia Pacific and also Western Europe, where it has smaller operations. Currently, NuSummit derives 60% of its revenues from India and 40% from International markets.

“We expect to flip that to 65-70% international in the next four years via market expansion in the US, Middle East, and Western Europe.” “As we grow bigger and bigger, the whole pie of BFSI portfolio and that industry vertical will become bigger… We will also continue to scale significantly, for instance, if I talk about cybersecurity, which is a very important pivot for us,” Sreenivasan said.

NuSummit also plans to scale up on its three key verticals of cybersecurity, cloud and digital transformation with a focus on inorganic growth to pick up the latest GenAI capabilities to boost business.