Blackstone Negotiates $500 Million Investment in Accord Software

Blackstone is negotiating an investment of between $400 million and $500 million in Accord Software Systems Pvt Ltd, a defense and avionics technology firm based in Bengaluru. The global private equity firm is seeking a significant minority stake, likely between 17% and 20%, though negotiations could see that figure rise to 49%.

Accord Software Systems specializes in global navigation satellite systems, producing electronic systems and satellite navigation devices for space and defense programs. The company plans to use the growth capital to expand into global markets and diversify its product offerings. PwC India is advising the firm on the fundraising process.

Crisil Ratings noted that high entry barriers and a healthy order book are expected to strengthen the company's business risk profile over the medium term. This potential deal aligns with a broader trend of private equity interest in Indian deeptech and defense, driven by government efforts to increase domestic manufacturing and reduce reliance on imports.