Multiples, India’s leading alternate asset management company, has made a significant move by acquiring a controlling stake in QBurst, a global digital product engineering platform. The deal, valued at over $200 million, is set to drive accelerated growth for QBurst, particularly through strategic acquisitions, talent enhancement, and investments in emerging technologies.
Founded in 2004, QBurst has grown into a major player in the global digital solutions space, offering services in digital product development, enterprise digitalization, data analytics, cloud services, and AI & generative AI services. With a robust presence across North America, Japan, the Middle East, Europe, and India, QBurst employs over 3,000 professionals and maintains a customer-centric approach driven by engineering excellence.
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The partnership with Multiples is expected to enhance QBurst’s capabilities significantly. Renuka Ramnath, Founder & CEO of Multiples, stated, “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 will hold a controlling stake, the founders of QBurst, Prathapan Sethu, Binu Dasappan, and Ansar Shihabudeen, will continue to have a meaningful stake, ensuring continuity in the company’s core values.
The deal marks a key milestone for Multiples, which has made similar investments in technology-driven companies like Quantiphi, PeopleStrong, and Moengage. Manish Gaur, Managing Director and Head of Enterprise Technology at Multiples, emphasized the strategic importance of the investment, saying, “QBurst is a differentiated tech services platform with end-to-end product development capabilities and a customer-centric technical solutioning approach. We are excited to work on accelerating its growth profile and unlock its full potential.”
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This partnership aims to enhance QBurst’s already impressive portfolio, which spans multiple industries and includes high-level partnerships with global tech giants such as Microsoft, Amazon, Salesforce, Google, and Adobe. With the transaction pending regulatory approval, the acquisition signals a new chapter for QBurst as it looks to expand its market reach and solidify its position as a global digital engineering force.