NSE tech subsidiary acquires majority stake in Cloudxchange.io

NSEIT Ltd, the IT-services focused subsidiary of NSE, on Wednesday said it has acquired majority stake in integrated cloud service provider Cloudxchange.io.

However, the financial details of the deal were not disclosed.

With this addition of Cloudxchange.io, NSEIT will offer end-to-end digital transformation solutions from cloud to security, NSEIT said in a statement.

Founded in 2016, Cloudxchange.io is a multi-cloud managed service provider for AWS, Azure, Google and Oracle Cloud. It has expanded its offerings to cloud consulting, multi-cloud aggregation, cloud back-up and disaster recovery (DR).

It has over 250 enterprise clients across sectors including Banking, financial services and insurance (BFSI), manufacturing, logistics and the government.

"In the current pandemic situation, India's financial services sector is focused on migrating to virtual operations. This need of the hour has led to an increasing demand for secure, scalable, and cost efficient infrastructure, thus ..