On October 27, Global investment firm KKR announced that it had signed an agreement to acquire a 100% stake in Ness Digital Engineering, a US-based digital services transformation company. The size of the official deal was undisclosed, but media reports put it at more than $500 million.

Ness is owned by The Rohatyn Group (TRG) and was established in 1998. The company now serves more than 100 clients, including S&P Global, the London Stock Exchange, JPMorgan, Michelin Group and Veritas.

Ness has a globally diverse talent pool of approximately 4,000 employees in India, Eastern Europe and the United States.

“Digital transformation and adoption is a key strategy for businesses globally. Against this backdrop, KKR believes that Ness is well-positioned for growth with its heritage of excellence, experience-driven product engineering,” said Partner and Chief Executive Officer, KKR India Officer Gaurav Trehan. Ness CEO Ranjit Tinaikar noted that investors with KKR capabilities would provide a “turbocharge” to the company’s growth plans.