Pune, India – August 4, 2023 – Ascendion, a prominent software engineering services provider, has announced its acquisition of Nitor Infotech, a software product engineering company specializing in innovative technologies like Generative AI for developing cutting-edge products.
The strategic acquisition is in line with Ascendion’s growth strategy, aiming to bolster its capabilities, expand its market reach, and offer an extended array of services to its clients. With the addition of Nitor Infotech, Ascendion gains access to over 700 skilled employees, while leveraging Nitor’s expertise in Generative AI to bring forward groundbreaking solutions. The acquisition further solidifies Ascendion’s focus on industries such as Health-tech, Retail-tech, and Supply chain-tech through Nitor’s domain knowledge and established client relationships.
Karthik (KK) Krishnamurthy, CEO of Ascendion, stated, “The acquisition of Nitor Infotech is a strategic move in our journey as a software-driven enabler of client growth. Our synergies in software engineering, real-world applications of Generative AI, and digital innovation make Nitor Infotech a natural fit for Ascendion. Both organizations share a strong engineering foundation, a common drive for AI innovation, and a relentless commitment to client success. This union enhances our engineering capabilities, opens new avenues, and amplifies our ability to cater to software product-focused businesses.”
Nitor Infotech is already contributing to the growth and innovation of approximately 60 clients by utilizing software engineering and technology advisory to enhance their digital products.
Additionally, Nitor Infotech brings a dedicated Technology Centre of Excellence specializing in Generative Artificial Intelligence. The center focuses on leveraging deep learning models, reinforcement learning, prompt engineering, and probabilistic programming to help clients derive value from AI. The company has successfully delivered AI and cloud engineering solutions to multiple clients within healthcare, retail, and other sectors.
Sanjeev Fadnavis, CEO of Nitor Infotech, expressed enthusiasm about the acquisition, stating, “Becoming a part of Ascendion is a source of great pride for us. Ascendion’s modern approach to software engineering, coupled with its strong culture and values, perfectly align with our ethos at Nitor Infotech. This collaboration expands our ability to provide clients with an enriched value proposition. Together, we have the potential to lead the product engineering realm through the transformative power of GenAI technology.”
