Blackstone portfolio company R Systems acquires Novigo Solutions in landmark deal
Greater Noida / El Dorado Hills, August 21, 2025 — Blackstone portfolio company R Systems International Limited, a global leader in digital product engineering, has entered into a definitive agreement to acquire Novigo Solutions, a Mangaluru-headquartered specialist in low-code/no-code (LCNC) development and intelligent automation services.
The strategic acquisition will create a global digital product engineering powerhouse with revenues of INR 20,600 million (around $240 million) and EBITDA of INR 3,800 million (around $45 million). The deal will bring together end-to-end capabilities for engineering, deployment and management of enterprise-scale fleets of AI agents on a single governed platform.
Novigo has delivered strong growth in recent years with 44% revenue CAGR over the last three years, a 25% EBITDA margin and strong free cash flow. The upfront cash consideration is INR 400 crore, with additional stock consideration linked to future EBITDA performance. The company said the acquisition will be earnings accretive for R Systems from Year 1.
As per disclosed information, the valuation is likely to be upwards of INR 1,000 crore, making this the largest IT merger and acquisition in the history of Mangaluru.
The combined portfolio will integrate R Systems’ OptimaAI Suite with Novigo’s UiPath Diamond-tier automation practice and Microsoft Copilot Centre of Excellence. This will position the merged entity as a leader in designing and operating intelligent, compliance-ready enterprises of the future. The acquisition will also scale up R Systems’ Middle East presence and expand delivery centres to Bengaluru and tier-2 cities such as Mangaluru.
Novigo’s leadership team — Praveen Kalbhavi (CEO), Mohammed Hanif (CTO), Shihab Kalandar (CCO), and Mohammed Jarood (COO) along with their team will continue with the combined business platform and drive future growth.
Nitesh Bansal, CEO and Managing Director of R Systems, described the acquisition as “a pivotal moment” for the company, its clients and its investors. “The acquisition of Novigo Solutions acts as an accelerator in our journey to lead the Agentic AI revolution. It is not just about scale, but about adding synergistic, high-margin capabilities that create stronger outcomes for our clients. We are delighted to welcome the highly talented Novigo team to R Systems,” he said.
Praveen Kalbhavi, Mohammed Hanif, Shihab Kalandar and Mohammed Jarood of Novigo said in a joint statement that joining R Systems strengthens their mission. “We have built a world-class practice around low-code platforms and intelligent automation. Now, supercharged by R Systems’ OptimaAI Suite, we can deploy agentic AI and automation at scale. Our talent across Mangaluru — emerging as India’s Silicon Beach — and other centres will now complement R Systems’ global reach,” they said.
The acquisition is expected to close in the coming weeks, subject to customary approvals. Barclays acted as Novigo’s exclusive financial advisor.
About R Systems: R Systems is a global digital product engineering and solutions provider with expertise in data and AI, cloud-native solutions, automation and agentic AI.
About Novigo: Novigo is a digital-first IT services company with strong expertise in product engineering, LCNC development and intelligent automation, serving clients across BFSI, Hi-Tech, Manufacturing and Energy sectors. It partners with Microsoft, UiPath, Snowflake, Databricks and OutSystems, and has its headquarters in Mangaluru.
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Yenepoya University conducts autism awareness campaign in Mangaluru
Mangaluru: The Department of Occupational Therapy at Yenepoya (Deemed to be University) conducted a community-based Autism Awareness Campaign at Fiza Mall and Ullal Beach in the city.
The campaign was aimed at promoting awareness, inclusion, and early identification of autism, in line with the global theme, “Autism and Humanity – Every Life Has Value.”
The programme was led by Dr. Dhayanithi K and Dr. Ananya Jana as organising chairpersons, with Dr. Anas, Dr. Amanda S. Phillip, and Dr. Ansu V. David served as organising members.
Students of the Bachelor of Occupational Therapy (BOT) programme participated in conducting the campaign.
The event included activities such as flash mobs, street plays, face painting, mehendi, and direct interaction with the public.
These activities focused on highlighting early signs of autism, the need for early intervention, and the importance of inclusion and acceptance of individuals with autism.
The campaign reached around 300 to 500 members of the public. It also provided students with practical exposure to community-based rehabilitation and public health education.
As part of the initiative, QR-based digital resources were introduced to help the public access reliable information on autism.
“Awareness is the first step towards inclusion, and early intervention can significantly improve outcomes,” the organising team said.
The department thanked the university for its support in organising the campaign. It also acknowledged the cooperation of the management of Fiza Mall and the Ullal Beach Police Department in facilitating the event.
