Ramnath has stepped up US origination capabilities
Mumbai’s Multiples Alternate Asset Management, along with its co-investors, has signed definitive documents to acquire a controlling stake in a high-growth digital product engineering platform, Qburst, for US$200 Million.
Renuka Ramnath, Founder, MD & CEO of Multiples, said on 6 Feb, “QBurst, with its remarkable journey powered by cutting-edge engineering, has carved a distinctive position in the global market. Our partnership will drive transformational success for the company, backed by exceptional talent addition, increased investments in emerging technologies and strategic acquisitions.
“While Multiples holds a controlling stake, the founders – Prathapan Sethu, Binu Dasappan and Ansar Shihabudeen – will continue to have a meaningful stake, ensuring the continuity of the best practices and values that have shaped the company’s growth.
“Multiples is focused on technology services companies operating in high growth areas. We have also stepped up our US origination capabilities, marking a beginning of many such large-scale control transactions.”
Founded in 2004, QBurst has grown into a global leader in digital solutions, offering services in Digital Product Development, Enterprise Digitalization, Data Analytics, Cloud Services, AI & Generative AI Services, Automation, DevOps, and Digital Marketing Enablement.
With a strong presence across North America, Japan, Middle East, Europe and India, the company has over 3,000 employees and maintains an agile, customer-centric approach while fostering top engineering talent. QBurst has been recognized by industry analysts such as Deloitte, Dun & Bradstreet, Statista, Economic Times and Financial Times as one of the fastest growing technology companies in India and the Asia Pacific. Fiinews.com
