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Akin Gump Strauss Hauer & Feld, Quillon Partners, and Kelley Drye & Warren have advised Indian private equity firm Kedaara Capital on its maiden bet in the data analytics and AI solutions market,  committing $350 million strategic investment to San Jose, California-based Impetus Technologies.

Impetus was guided by DLA Piper and Khaitan & Co,, while Kirkland & Ellis and Linklaters served as legal counsel on acquisition financing matters.

As a provider of data, analytics, and AI solutions, Impetus caters to Fortune 500 clients like Microsoft and Google Cloud across the U.S. and Europe. It is known for its flagship product, LeapLogic, which automates the migration of legacy data systems to cloud environments, achieving up to 95 percent automation to enhance operational efficiency and ensure business continuity. 

The partnership will enable Impetus to leverage Kedaara's network and the expertise of its senior operating team, which includes former CEOs. 

The AI-as-a-service market is valued at $20 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 36 percent, potentially hitting close to the $100 billion mark by 2030, according to data by Mordor Intelligence. 

The global data and AI market is projected to surpass $500 billion in the coming years, driven by an increasing demand for data-driven insights across various industries. Gartner forecasts that this sector will experience double-digit growth as businesses seek innovative solutions to leverage their data assets effectively

The Khaitan team comprised partners Sanjay Khan Nagra and BN Vivek, and senior associate Mahima Selvakumar.

 

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