Ascendion to strengthen software product engineering and Generative AI capabilities with Nitor Infotech acquisition: Karthik Krishnamurthy

Ascendion, a US-based software engineering company, announced the acquisition of Nitor Infotech, a software product engineering firm with Generative AI expertise. Nitor Infotech brings more than 700 employees to Ascendion with deep expertise in software product engineering and Generative AI.

The global service delivery is now strengthened with a new software product engineering hub in Pune, India. Nitor Infotech will continue operations under its existing brand as an Ascendion company. Karthik Krishnamurthy, CEO Ascendion, tells us more. Excerpts from an interaction.

DQ: Please tell us more about the acquisition, and why this specific firm?

Karthik Krishnamurthy: Ascendion's acquisition of Nitor Infotech is part of our growth strategy to enhance competencies and offer a broader range of services to clients. Nitor Infotech is a software product engineering company with expertise in Generative AI, a technology that aligns with our focus on software product engineering and real-world Generative AI solutions.

Both companies share a strong focus on innovation related to AI and client allyship, making Nitor Infotech a natural fit for Ascendion's expansion plans. Nitor Infotech brings nearly 700 employees to Ascendion with expertise in software product engineering and Generative AI. They have a dedicated Technology Centre of Excellence for Generative Artificial Intelligence, which helps explore and deploy deep learning models, prompt engineering, reinforcement learning, and probabilistic programming to help clients capture value from AI.

With Nitor Infotech's expertise and talent, we at Ascendion aim to strengthen and expand its software product engineering and Generative AI capabilities. This acquisition is expected to enable us to deliver even more innovative and cutting-edge solutions to our clients, thereby potentially driving further growth for the combined entity.

DQ: So, what is the aim of this development?

Karthik Krishnamurthy: By bringing Nitor Infotech's expertise in software product engineering and Generative AI into the fold, we seek to strengthen our position as a leader in using software to drive client productivity and growth. The acquisition is part of Ascendion's growth strategy to expand our capabilities and talent pool, particularly in serving software product-focused companies.

DQ: How do you see India as talent base for Ascendion?

Karthik Krishnamurthy: Ascendion's acquisition of Nitor Infotech gives the company access to an established software engineering hub located in Pune, India, which boasts a workforce of over 700 software product engineering professionals.

In light of the emergence of Gen AI and the considerable demand for advanced digital products, Ascendion reiterates its unwavering commitment to recruiting proficient professionals in India, specifically focusing on product engineering, AI/ML, DevOps, and other relevant fields. The tech talent landscape in India has witnessed a remarkable upsurge, cementing its status as a crucial talent reservoir for our organization, thanks to the abundance of highly-skilled software engineers and technology experts in the region.

Consequently, Ascendion is actively seeking to tap into talent from tier 2 and tier 3 cities, providing essential training to engineers as needed and capitalizing on a diverse set of skills and perspectives. The establishment of this new hub in Pune is poised to unlock untapped talent pools, thereby making a substantial and positive impact on Ascendion's growth and expansion strategies.

DQ: What are your growth and expansion plans?

Karthik Krishnamurthy: The acquisition of Nitor Infotech represents a highly strategic move in Ascendion's growth trajectory. This strategic action bolsters Ascendion's presence in the Health-tech, Retail-tech, and Supply chain-tech industries, leveraging Nitor's domain expertise and established client relationships.

The alignment between the two entities is exceptionally fitting due to shared interests in software engineering, real-world Generative AI solutions, and digital innovation. Both companies share a deep-rooted engineering DNA, a strong emphasis on AI-driven innovation, and an unwavering commitment to client partnership.

This coming together amplifies our engineering capabilities, unlocks new markets and talent pools, and further enhances our ability to serve software product-focused companies. Nitor Infotech will continue to function as an independent entity under the Ascendion umbrella, dedicated to aiding their clients in achieving innovation and revenue growth through cutting-edge digital products and technology advisory services.

As part of our growth plan, we have already welcomed over 1,500 new employees in 2023. We are steadfast in our goal to recruit an additional 400-500 professionals by the year-end. Moreover, with the integration of 700+ talented Nitorians, we are presented with a unique opportunity to lead the product engineering landscape through the transformative power of GenAI-enabled technology.

DQ: What are your products and offerings/USP?

Karthik Krishnamurthy: Both companies share a common focus on providing software engineering services and harnessing the potential of Generative AI technology to develop cutting-edge solutions for their clients. Ascendion has already demonstrated its prowess in engineering and deploying advanced AI systems. Its proprietary AI/ML-based platform, Ascendion AVA leverages advanced AI to enhance our software engineering practices and deliver impactful solutions to our clients.

At Ascendion, we view AI as a transformative force that enhances enterprise operations, elevates productivity, and fosters innovation in alignment with business objectives. We take pride in highlighting our expertise in applied AI, engineering, cloud, data, experience design, and talent transformation, all of which accelerate innovation for our esteemed Global 2000 clients.

On the other hand, Nitor Infotech, being a prominent software product engineering company, is renowned for its GenAI-powered services and solutions spanning web, cloud, data, and devices. Additionally, they emphasize their consulting-driven value engineering approach, positioning themselves as an agile and nimble partner for organizations embarking on a digital transformation journey. Both companies share a commitment to leveraging AI and technology to drive innovation and deliver exemplary results to their clientele.

DQ: What is your brand’s unique value proposition around talent and engineering?

Karthik Krishnamurthy: Ascendion's and Nitor Infotech’s distinct value proposition centers on the seamless integration of talent and engineering prowess. As the demand for technology surges, we perceive talent as the chief constraint. Our commitment to this understanding is evident in our significant investments in talent acquisition and recruitment marketing initiatives.

Embracing both traditional full-time hiring and the gig worker model, we access specialized talent that ensures agility in talent acquisition and resource allocation. This approach facilitates access to a diverse pool of expertise, enabling us to deliver exceptional results on specific projects.

Further strengthening our talent base, we prioritize tier 2 and tier 3 cities, acknowledging their emergence as significant tech talent hubs. This strategic move broadens our talent pool and enables us to nurture skills in in-demand technologies such as Blockchain, Unity, Data Science, AI/ML, and DevOps. Our emphasis on craftsmanship further elevates our engineering capabilities.

As we champion craftsmanship, our unique community, Ascendion Circles, promoting mentoring, peer learning, hands-on projects, and the creation of intellectual property stands as a differentiator in talent attraction and retention. Mentorship plays a pivotal role in nurturing craftsmanship and guiding young engineers to focus on impactful skills. Leveraging campus recruitment drives and employee referrals, we continually infuse our talent pool with fresh perspectives.

The strength of our employer brand and company culture further sets us apart, attracting and retaining top talent. Our commitment to these principles enables us to navigate the evolving technology landscape while fostering a culture of continuous improvement and innovation.

DQ: Finally, what are some key milestones achieved in Ascendion’s journey so far?

Karthik Krishnamurthy: Ascendion has achieved significant milestones, establishing itself as a global leader in software engineering and digital transformation. Here are some key highlights of the company's recent accomplishments:

Recognition: HFS named Ascendion an Enterprise Innovator for its global capabilities, digital transformation expertise, and leading-edge tools, including the acclaimed Ascendion AVA platform. Clients, including Fortune 500 companies, praised its flexibility and implementation capabilities.

Rapid growth: In 2023, Ascendion welcomed 1,500 new employees and plans to hire an additional 400-500 professionals by year-end.

New delivery hub: Ascendion launched a major software engineering hub in Monterrey, Mexico, aiming to become the largest hub outside India with a strong focus on applied AI. The project will contribute significantly to Mexico's economy, creating over 200 jobs within six months and over 1,500 jobs in the next three years.