NSEIT Limited, a wholly owned subsidiary of the National Stock Exchange of India Ltd (NSE) today announced acquisition of majority stake in an emerging leader in cloud services – Cloudxchange.io.
Cloudxchange.io augments NSEIT’s vision of becoming a cloud native, niche & innovative digital solution provider for enterprises. The addition of new age cloud offerings of Cloudxchange.io to NSEIT’s digital transformation portfolio will further enhance its offerings to provide a complete 360° digital transformation suite for its enterprise clients. In recent times, entire industry has witnessed an exponential surge in cloud adoption especially during the pandemic. As per Nasscom’s report, 63% of India’s enterprises have increased investments in hybrid cloud which is higher than the global average of 46%.
With this addition of Cloudxchange.io, NSEIT will offer end to end digital transformation solutions from Cloud to Security.
Cloudxchange.io is an emerging leader in the cloud-based services. It is a Multi Cloud Managed Services Provider i.e. for AWS, Azure, Google & Oracle Cloud. It has expanded its offerings to cloud consulting, multi cloud aggregation, cloud back-up & disaster recovery (DR), DevOps as a service and unified managed services. Cloudxchange.io has 250+ Enterprise clients across sectors including BFSI, manufacturing, logistics and government.
Speaking on the occasion of this strategic announcement, Vikram Limaye, MD and CEO, NSE said: “In the current pandemic situation, India’s financial services sector is focused migrating to virtual operations. This need of the hour has led to an increasing demand for secure, scalable, and cost efficient infrastructure, thus leading to higher levels of cloud adoption and cloud infrastructure spends. With the addition of Cloudxchange.io to NSEIT’s digital portfolio, NSEIT team will be poised to serve the growing demands of the financial services sector. NSE Group’s mission has been to support the growth of financial services sector and through NSEIT, we aim to diversify into emerging technologies and create a niche positioning for NSEIT.”
Cloudxchange.io’s acquisition is yet another milestone achievement for NSEIT after acquiring Aujas Cybersecurity Ltd. in 2019. Dr. N Muralidharan, CEO & MD, NSEIT said during this announcement: “NSEIT has been an integral part of the digital transformation journey for many of our enterprise clients. We have been proactive in bringing in niche digital transformation solutions to address on-going customer transitions in line with market demands. The Cloudxchange.io acquisition will give us an edge to provide an integrated solution by offerings cloud transition, knowledge driven digital transformation solution along with embedded cyber security”
In a joint statement, Co-Founders of Cloudxchange.io, Vishal Chandane, Neelesh Kankane & Nilesh Rane, stated: “We are delighted and privileged to align our journey with NSE group. Association with NSEIT will give us the platform & reach to expand further into domestic & international markets. As we simplify the cloud journey for our clients, we too accelerate our growth.”
Cloudxchange.io was founded by leading industry veterans in 2016 and in just five years has achieved 5X growth.