SLK Software's promoters look to sell majority stake

Mumbai: The promoters of the Bengaluru-based technology services firm SLK Software, the Amin family, are all set to sell a majority stake in the company, according to people familiar with the matter.

Feelers have been sent to major buyout funds and non-binding bids are expected in a few weeks, they said. Parth Amin and Roshen have mandated Avendus to manage the sale process. The deal is likely to value SLK at about $800 million ('7,000 crore), said multiple people aware of the development.

SLK Software is projected to report an earnings before interest, taxes, depreciation and amortisation (Ebitda) of $40 million for FY25, with the company potentially valued at 18-20 times Ebitda, the people said.

Incorporated in 2000, SLK Software is focussed on artificial intelligence, intelligent automation and analytics to provide technology solutions to its customers. It provides software related services in segments such as manufacturing, banking, insurance and financial services.

The company provides computer data processing services in the fields of contact centre customer support, analytics; data processing consultation in the field of banking, manufacturing, and utilities; and consulting services in the field of optimising the effectiveness of customer service contact centres.

With a primary focus on the US market, SLK Software serves regional banks, manufacturers and companies that serve customers in the oil and gas, energy and utilities sectors, according to the company website.

Overall, the group has a strength of 5,000 employees. In India, SLK Software's operations are in Bengaluru and Pune. In the US, it has offices in Cincinnati and Chicago. Besides, it has offices in France, the Netherlands, Germany, the UK and Singapore.

Queries emailed to SLK Software CEO Ajay Kumar did not elicit any response till press time on Thursday.

In 2021, the promoters had sold a controlling stake in SLK Global Solutions, the provider of business process management to IT company Coforge for '920 crore.

The group owns two companies - Avo Automation and Maldivian Mermaid.