Birlasoft

Birlasoft was founded in 1990.^[3] The company was launched in New Jersey in 1992 with initial equity investment from GE Capital. By the fiscal year 2002-2003, the company reported $73 million in revenue and 1,500 employees.^[5] In 2003, GE Capital held a 20% equity stake in the company.^[7][8][9] In 2001, Birlasoft secured a contract from the Ministry of External Affairs of India to computerize Indian consulates in New York and Dubai, with an extension to 38 other consulates worldwide.^[10]

In April 2004, the company achieved a Level 5 maturity in CMMI Continuous Representation - SW version 1.1 from the Software Engineering Institute, becoming the first Indian IT company to attain this level.^[11]

In December 2005, Birlasoft acquired Portfolio Insight, a loan pricing and portfolio management software, from Sydney-based Fusion Technology Group.^[12] The company launched Birlasoft Advisior+ in the Asia-Pacific market in 2006, providing tools for investment advisors and financial institutions for portfolio management and analytics.^[13]

In January 2014, Birlasoft acquired US-based CRM software provider EnablePath for an undisclosed sum.^[14]

In 2019, Birlasoft and KPIT Technologies underwent a merger and demerger, leading to the creation of two publicly traded companies, with Birlasoft operating in business IT services and KPIT Technologies focusing on automotive embedded software.^[15][16]

In December 2020, Acacia II Partners LP sold over 6.7 million shares of Birlasoft Ltd worth approximately ₹137 crore through an open market transaction.^[17]

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