India, Aug. 22 -- R Systems, a digital product engineering organisation backed by Blackstone, has announced that it has entered into a definitive agreement to acquireNovigo Solutions, a specialist in low-code/no-code (LCNC) development and intelligent automation services.

The acquisition will create a global digital product engineering services platform with revenue of approximately INR 20,600 million (~USD 240 million) and EBITDA of INR 3,800 million (~USD 45 million). The combined company will focus on the engineering, deployment and management of enterprise-scale fleets of AI agents within a governed framework.

The deal includes an upfront cash consideration of INR 400 crore, with additional stock consideration linked to Novigo's fut...