New Delhi, April 15 -- One Point One Solutions Limited, a Mumbai-based provider of business process management services, has signed a binding term sheet to acquire a majority stake in an unnamed Indian startup that has developed a fully autonomous, Artificial Intelligence (AI)-powered software development platform, it said Tuesday.
The AI platform, developed by the homegrown deep-tech enterprise, is capable of generating complete, ready-to-deploy software without human coding input, the firm said. Unlike traditional low-code or coding-assistance tools, the platform uses AI to independently build frontend, backend, and database components of software. It operates using technologies such as machine learning, natural language processing, and reinforcement learning and competes with the likes of global firms OutSystems, Mendix, and Appian.
The deal is currently subject to regulatory approvals and due diligence and the firm is likely to share more details including the name of the target enterprise at a later date.
NSE-listed One Point One Solutions said the proposed acquisition will allow it to deliver faster and more scalable software solutions for businesses.
It noted that the propose deal will accelerate its global expansion by offering next-gen software development-as-a-service, command a first-mover advantage in India's fast-growing $15 billion AI-Low Code/No Code (LCNC) segment, strengthen its digital transformation suite with proprietary AI IP, open new high-margin revenue streams via subscription and service -based SaaS besides transitioning from services to solutions-moving up the value chain with AI-led product engineering.
The platform will be offered as a subscription-based and service-based model, targeting sectors such as banking, healthcare, logistics, telecom, and retail.
Published by HT Digital Content Services with permission from TechCircle.