Digital product-engineering firm R Systems International Ltd. said Thursday it has entered into a definitive agreement to acquire Novigo Solutions Pvt. Ltd., a maker of low-code/no-code development and intelligent automation services, for $240 million in cash with additional stock consideration tied to future milestones.

R Systems, which has principal offices in Greater Noida, India and El Dorado Hills, California, is a global product engineering and technology services company that helps enterprises design, build and scale software products across various vertical industries.. It said the deal is expected to be accretive to earnings per share in the first year, noting that Novigo has logged a 44% compound annual growth rate over the last three years and a 25% margin on earnings before interest, taxes, depreciation, and amortization.

The acquiring company, which is majority-owned by Blackstone Inc., reported trailing-12-month revenue of $211 million on June 30. Shares of R Systems jumped more than 16% in early trading today on news of the acquisition.

R Systems said it plans to combine its OptimaAI software development suite with Novigo’s automation practice based on UiPath Inc. technology and its Microsoft Copilot Center of Excellence to deliver artificial intelligence agent products.

The acquisition marks “a pivotal moment” in enabling clients to transition from pilots to automated, compliance-ready AI workflows, said Nitesh Bansal, chief executive and managing director of R Systems. He said the integrated platform will take customers from model engineering to autonomous execution under a unified service canopy.

Novigo’s Chief Executive Praveen Kalbhavi said joining R Systems accelerates the company’s mission to deploy “agentic AI and automation tools at scale.”

Barclays PLC served as the exclusive financial advisor to Novigo. The deal is expected to close in the coming weeks.

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