The financial details of the transaction were not disclosed.
This is Xoriant’s third acquisition since it was majority acquired by Indian private equity major ChrysCapital for $250 million in January last year.
“Established in 2013, Fexle has developed robust expertise in sales, marketing and service cloud, with significant capabilities in data cloud, CPQ, Pardot and Heroku, and is a key contributor to the Salesforce AppExchange,” Xoriant said in a statement. “The company provides consulting, implementation and managed services to prominent clients across the US and other global markets.”
Xoriant aims to elevate its Salesforce practice, advance AI capabilities and optimise data utilisation by integrating Fexle’s architects, seasoned consultants and developers, it added.
Fexle is also Salesforce product development outsourcer partner.
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“Integrating Fexle into Xoriant represents a significant step in our mission to lead the digital engineering space and enables clients to maximise their returns from the Salesforce platform with the use of AI and other advanced digital engineering technologies,” said Sukamal Banerjee, CEO of Xoriant. “This expansion not only enriches our talented engineering team with highly skilled and experienced professionals but also extends our presence into Jaipur, reflecting our commitment to growing our footprint in this key location. We are thrilled to welcome Fexle and its leadership team into the Xoriant family.”Equirus acted as the financial advisors to the transaction while EY provided accounting and tax advisory services to Xoriant. Quillon Partners were legal counsels for Xoriant and Legalogic for Fexle.
Xoriant provides services and solutions focused on digital product engineering, cloud infrastructure and operation across sectors like banking and financial services, hi-tech, healthcare, pharma, industrial manufacturing, retail, telecommunications and automotives.
“This marks an important milestone for us, as our team is now positioned to share our expertise on a global scale. Together, we can revolutionise designs that go beyond meeting, and instead, exceed the expectations of end-users worldwide,” said Bhawani Sharma, founder and CEO of Fexle.
In February, Xoriant had picked up a 100% stake in Bengaluru-based specialised product engineering firm MapleLabs Inc to focus on hybrid cloud infrastructure and cloud native engineering. Xoriant also acquired a stake in Bengaluru-based consulting firm Thoucentric in August 2023.
