With this acquisition, Kalpak Shah (co-founder and CEO, Velotio), Chirag Jog (co-founder and CTO, Velotio), and the rest of the Velotio team will partner with R Systems to help scale Velotio's business, develop its engineering capabilities and accelerate its growth.

The Velotio leadership team brings decades of experience and deep-rooted knowledge of building complex engineering solutions that meet the rapidly growing needs of various industries.

Nitesh Bansal, managing director & chief executive officer of R Systems, said, “This partnership with Velotio and its talented management team is a significant step towards R Systems' continued growth journey. Velotio's deep engineering capabilities within its focus verticals neatly complement our vertical presence and deepen our delivery capabilities in areas like cloud, DevOps, data engineering, and generative AI. We are also excited to expand our India delivery presence to Pune, a hub of product engineering talent.

Kalpak Shah and Chirag Jog, co-founders of Velotio, said, “With our culture of attracting and nurturing top talent in the latest technologies and R Systems' extensive industry expertise and global presence, we are excellently positioned to help enable our customers on a strong growth trajectory. We also look forward to collaborating closely with Blackstone, one of the world's leading investors, as we look to build a scaled and fast-growing digital product engineering company.”

R Systems International is a leading global provider of technology, artificial solutions along with knowledge services. The Company delivers its services and solutions to leading technology companies and businesses to enable their digital transformation.

The company's consolidated net profit jumped 20.7% to Rs 35.84 crore on 17.8% rise in net sales to Rs 404.07 crore in Q1 CY23 over Q1 CY22.