Info-tech

NSE tech arm acquires majority stake in Cloudxchange.io

Our Bureau Mumbai | Updated on July 14, 2021

With this addition, NSEIT will offer end-to-end digital transformation solutions

NSEIT Limited, a wholly-owned subsidiary of the National Stock Exchange of India Ltd, has acquired majority stake in cloud services start-up Cloudxchange.io.

Cloudxchange.io augments NSEIT’s vision of becoming a cloud native, niche and innovative digital solution provider for enterprises. In recent times, the entire industry has witnessed an exponential surge in cloud adoption, especially during the Covid pandemic. As per Nasscom’s report, 63 per cent of India’s enterprises have increased investments in hybrid cloud which is higher than the global average of 46 per cent.

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With this addition of Cloudxchange.io, NSEIT will offer end-to-end digital transformation solutions, from cloud to security.

Cloudxchange.io is a multi cloud managed services provider, i.e. for AWS, Azure, Google & Oracle Cloud. It has expanded its offerings to cloud consulting, multi cloud aggregation, cloud back-up & disaster recovery (DR), DevOps as a service and unified managed services. It has 250-plus enterprise clients across sectors including BFSI, manufacturing, logistics and government.

Niche positioning

Vikram Limaye, MD and CEO, NSE, said: “NSE Group’s mission has been to support the growth of financial services sector and through NSEIT, we aim to diversify into emerging technologies and create a niche positioning for NSEIT.”

NSEIT had, in 2019, acquired Aujas Cybersecurity Ltd.

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In a joint statement, Co-Founders of Cloudxchange.io Vishal Chandane, Neelesh Kankane anf Nilesh Rane, stated: “We are delighted and privileged to align our journey with NSE group. Association with NSEIT will give us the platform and reach to expand further into domestic and international markets. As we simplify the cloud journey for our clients, we too accelerate our growth.”

Cloudxchange.io was founded by leading industry veterans in 2016 and in just five years has achieved 5X growth.

Published on July 14, 2021

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