Marlabs looks at raising $40 million in PE investments to fund acquisitions

Marlabs was founded in 1996 by Siby Vadakekkara and with former iGate chief executive Phaneesh Murthy as a board member

Marlabs, a US-based information technology services company with significant delivery presence in India, is in talks with private equity (PE) investors to raise around $40 million to fund future acquisitions. 

Fou­nded by Siby Vadakekkara and with former iGate chief executive Phaneesh Murthy as a board member, it is scouting for entities working in emerging technologies, in the range of $10-15 million. “We have a few conversations going on with several PE funds for this funding,” said Vadakekkara, chairman and chief executive.

Marlabs was founded in 1996. Last year,it reported $140 million in revenue and is looking at closing this year with $155-160