We are pleased to inform you that, the Board of Directors in its meeting held on August 21, 2025, commenced at 06:04 P.M. and concluded at 06:37 P.M. has approved the acquisition of 100% (hundred per cent) equity shares of Novigo Solutions Private Limited, a company incorporated under the laws of India, and having a business of information technology services including digital and product engineering services.

R Systems International has approved the acquisition of 100% equity shares of Novigo Solutions Private Limited, an Indian IT services company focused on digital and product engineering. The upfront cash consideration is INR 400 crores at an implied ~6x EBITDA multiple, with additional stock consideration tied to future EBITDA performance. Novigo reported FY25 revenue of INR 2,644 million (44% CAGR over 3 years) and EBITDA of INR 657 million (25% margin). The deal is expected to be EPS accretive from year 1, creating a combined entity with INR 20,600M revenue and INR 3,800M EBITDA. The acquisition strengthens R Systems' capabilities in Agentic AI, low-code/no-code, and intelligent automation, and expands its delivery footprint in Mangalore, Bengaluru, and the Middle East. The transaction is expected to close in the coming weeks, subject to customary conditions.