Nihilent Limited, a global consulting and services company, announced that its Founder and Promoter, LC Singh acquired the controlling stake from NTT Ltd.
With the acquisition of 69.16 percent, Nihilent will become a management-owned entity. The buyout was facilitated using debt financing from a consortium of leading funds, namely ICICI Prudential Corporate Credit Opportunities Fund AIF-I of ICICI Prudential Alternate Investments and Piramal Structured Credit Opportunities Fund, the Performing Credit fund managed by Piramal Alternatives Private Limited.
The acquisition of the controlling stake aligns with Nihilent’s strategic vision and commitment to enhancing its market presence, taking its IPs and products to market, strategic expansion of its current capabilities, and ramping up its offering in AI, ML, XR, and Generative AI.
Incepted in 2000 by industry veteran LC Singh, Nihilent is a global consulting and services company that uses a human-centric approach to problem-solving and change management. The company has a presence in South Africa, India, USA, Sweden, UK, and Australia.
“We are excited to announce the successful buyout of the controlling stake from NTT Ltd. This strategic move allows Nihilent to regain full control and autonomy over its operations, enabling us to implement our vision and business strategies more effectively. We extend our gratitude to NTT Ltd. for their support and collaboration over the years. Their contributions have been instrumental in our success, and we look forward to building on the foundation they helped us establish,” said LC Singh, Executive Chairman, Nihilent.
The acquisition demonstrates Nihilent’s commitment to fostering innovation, strengthening customer relationships, and creating long-term value for stakeholders.