National Stock Exchange subsidiary acquires majority stake in Cloudxchange.io
NSEIT Ltd, a wholly-owned subsidiary of the National Stock Exchange of India Ltd, said it has acquired a majority stake in cloud services firm Cloudxchange.io.
This will augment NSEIT’s capabilities in cloud and digital solutions for enterprises.
With the move, NSEIT will also be able to offer end to end digital transformation solutions from cloud to security.
Cloudxchange is a multi-cloud managed services provider for Amazon Web Services, Azure, Google and Oracle Cloud. It has expanded its offerings to cloud consulting, multi-cloud aggregation, cloud back-up and disaster recovery, DevOps as a service and unified managed service.
Cloudxchange has over 250 enterprise clients across sectors including banking, financial services and insurance, manufacturing, logistics and government.
“In the current pandemic situation, India’s financial services sector is focused on 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, the NSEIT team will be poised to serve the growing demands of the financial services sector,” Vikram Limaye, MD and CEO of NSE, said.
Earlier in 2019, NSEIT acquired cyber security firm Auja Security. https://www.vccircle.com/nse-subsidiary-acquires-vc-backed-cybersecurity-firm-aujas-networks/
“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,” N Muralidharan, CEO and MD of NSEIT, said.
“The move will give Cloudxchange the platform to expand further into domestic and international markets,” Cloudxchange founders Vishal Chandane, Neelesh Kankane and Nilesh Rane said.