In an interview, Dubey said the company will pursue a smaller deal instead of a major transaction for its first acquisition. He did not disclose the estimated size of a potential deal and how it would be funded.
The Bengaluru and SanJose based firm counts its three co-founders-Dubey, Sumit Mehra and Shubh Bhowmick as the majority shareholders.
Private equity firm Advent International, which invested in a $175 million Series B funding round last week, and Tredence's Series A investor Chicago Pacific Founders (CPF) also hold board positions as minority stakeholders.
The latest deal, which valued Tredence at over $500 million, also saw CPF's stake drop to less than 10% from the high 20's earlier. "They still have a stake in Tredence because they are still betting on us," Dubey said.
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