True North and others invest $93 million in US-based Accion Labs

Home-grown private equity fund True North on Tuesday announced that it has acquired a significant minority stake in digital engineering company Accion Labs for USD 93 million along with co-investors.

The stake in the USA’s Pittsburg-based Accion has been acquired by the True North-advised Indium VI (Mauritius) Holdings from private equity fund TA Associates and other shareholders, as per an official statement.

The Kinesh Doshi-led Accion was founded in 2011, and focuses on digital transformation projects for global enterprises and technology firms. It has 4,800 employees globally spread across 20 locations, who do digital consulting, innovation and digital product engineering, data/machine learning engineering and automation work.