True North invests $75 million for stake in US' iLink Digital
True North has agreed to invest $75 million for a minority stake in US-based digital transformation solutions provider iLink Digital.
The investment, made by True North’s $600-million (around Rs 4,200 crore) Fund VI, is aimed at expanding iLink Digital’s organic and inorganic growth in the IT services space.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Digital TransformationVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitNorthwestern UniversityKellogg Post Graduate Certificate in Product ManagementVisitIndian School of BusinessISB Product ManagementVisit“As part of the transaction, True North will invest up to $75 million over a period of 12 months for a minority stake in the company,” True North said in a statement.
The investment also marks the fund's third investment in the technology services sector after picking up minority stakes in US firm Accion Labs in September last year and Singapore-based Quest Global in 2021.
iLink is a digital transformation services company aimed at driving digital innovation through its consulting and technology services and solutions.
The Seattle-headquartered firm was co-founded by first-generation entrepreneurs Sree Balaji and Sridhar Mahadevan in 2002. It will utilise the proceeds from the investment to drive its mergers and acquisitions while a portion of it will go towards initiatives aimed at furthering iLink’s employees and client base.
With a 2,500 strong workforce in consulting and digital engineering skills, iLink has 18 offices across eight countries including USA, India, Mexico, Portugal, Canada, UAE, Malaysia, and Singapore.
“We want to invest in fast-growing,
