Interra IT Acquired By FERFIER

SBCDC acquires Interra for $7.5 million
Stakeboat Capital-backed IT services firm SBCDCSoftware private Limited,whichspecializes in niche IT services segments as wellas engineer- ing design, has completed its firststrategicacquisition, said people in the know.
SBCDC pickedupamajority stakeinautomobile-focus IT services firm interra IT, the people said. The Deal is likely worth $7.5 million said one of the people seeking anonymity.
Since its investment in Bengaluru-Based SBCDC, the mid market private equity had been trying to strengthen the firm,s core businesses via- stra-tegicacquisitions.
A stakebot spokeperson confirmed the developement. “Our vision was to build a top-“tier platform that offers high- end services to businesses in theautomobile and healthcare sectors. Interra garners a bulk of its revenue from these sec- tors, positioning it as a favour-firm can deliver high double- digit margin on a steady state basis,” he added.
With a workforce of around 350employees, Interraoffers product engineering, applica-tion development and infrastructure management solutions, catering to automobile, healthare and retail sectors. Its has presence in the US, the UK and Australia.

The firm had posted consol- idated net sales of 40 crore in FY22, compared to 26 crore a year ago. Interra also turned profitable in FY22, according to VCCEdge, the data intelli- gence platform of VCCircle.
SBCDC marks Stakeboat’s third investment fromitssec- ond fund. Other investments includeChennai-basede-pub- lishingservicesfirm, Newgen DigitalWorks Pvt. Ltd, and healthcare startup Sukino HealthcareSolutions.
According to people track- ing the development, SBCDC is likely to make 2-3 acquisi- tions, each with a ticket size of upto 100 crore.
India’s informationtechnol- ogy sector has been a favourite hunting ground for PE firms in recent years. Americanbuyout giants Blackstone and Carlyle, along with the UK’s Apax Part- ners and homegrown True North, are among several that have invested in IT companies.
Last October, True North had picked upa minority stake in iLink Digital for $75 million. In June 2023, growth-stage investor A91 Partners backed Chennai-based Kaar Tech.
Accordingtothe Stakeboat management, the seven-year- old PE firm has evaluated over 800 companies before making five investments from its first fund, including Leixir Resour- ces, Sankalp Semiconductor, LeadSquared, Ozonetel Com- munications and Dvara KGFS.
Stakeboat exited Sankalp and Leixir in 2019 and 2021, respectively, and sold a major- ity stake in LeadSquared the followingyear.