Multiples, a prominent alternate asset management company in India, has recently made a bold move by acquiring a controlling stake in QBurst, a renowned global digital product engineering platform. This significant deal, valued at over $200 million, is poised to propel accelerated growth for QBurst through strategic acquisitions, talent enrichment, and investments in emerging technologies.
Established in 2004, QBurst has emerged as a major player in the global digital solutions arena, offering a wide array of services ranging from digital product development and enterprise digitalization to data analytics, cloud services, and AI & generative AI services. With a strong presence spanning North America, Japan, the Middle East, Europe, and India, QBurst boasts a workforce of over 3,000 professionals who are committed to a customer-centric approach driven by engineering excellence.
Empowering Growth Through Partnership
The collaboration with Multiples is anticipated to significantly bolster QBurst’s capabilities. Renuka Ramnath, the Founder & CEO of Multiples, expressed confidence in QBurst’s trajectory, stating, “QBurst, with its remarkable journey fueled by cutting-edge engineering, has carved out a distinctive niche in the global market. Our partnership is poised to usher in transformative success for the company, underpinned by the addition of exceptional talent, increased investments in emerging technologies, and strategic acquisitions.” While Multiples will hold a controlling stake, QBurst’s founders – Prathapan Sethu, Binu Dasappan, and Ansar Shihabudeen – will retain a substantial stake, ensuring a seamless continuation of the company’s core values.
This strategic alliance represents a pivotal moment for Multiples, which has previously made strategic investments in technology-focused companies such as Quantiphi, PeopleStrong, and Moengage. Manish Gaur, the Managing Director and Head of Enterprise Technology at Multiples, underscored the significance of this investment, highlighting QBurst’s unique position as a tech services platform with comprehensive product development capabilities and a customer-centric technical approach. Gaur expressed enthusiasm about the prospect of accelerating QBurst’s growth trajectory and unlocking its full potential.
Expanding Horizons and Strengthening Partnerships
The partnership with Multiples is poised to augment QBurst’s already impressive portfolio, which encompasses a diverse range of industries and includes strategic partnerships with global tech giants like Microsoft, Amazon, Salesforce, Google, and Adobe. As the acquisition awaits regulatory approval, it signals a new chapter for QBurst as the company sets its sights on expanding its market reach and solidifying its standing as a global digital engineering powerhouse.
In conclusion, the acquisition of a controlling stake in QBurst by Multiples represents a significant milestone in the evolution of both companies. With a shared vision for innovation and growth, this partnership is poised to redefine the landscape of digital product engineering and propel QBurst to new heights of success. As the industry eagerly anticipates the unfolding of this transformative collaboration, the future looks bright for QBurst and Multiples alike.
