Multiples Secures Major Stake in Qburst for USD 200 Million

Multiples, a private equity fund, is set to acquire a controlling stake in Kerala-based Qburst, a digital product engineering company, for USD 200 million. This acquisition is the largest control deal in technology services for the firm. Qburst, founded in 2004, specializes in digital development and employs 3,000 globally.

In a landmark move, private equity fund Multiples has announced its acquisition of a controlling stake in Kerala-based digital product engineering powerhouse, Qburst, for USD 200 million. This strategic move is part of the largest control deal in technology services for Multiples, according to an official statement released Thursday.

Founded in 2004, Qburst has built a strong reputation in the digital domain, offering services in product development, data analytics, cloud services, AI, and digital marketing, among others. With a global workforce spread across North America, Japan, the Middle East, Europe, and India, the company employs 3,000 professionals catering to diverse sectors.

Multiples' founder and chief executive Renuka Ramnath emphasized the transformational potential of this partnership, citing increased investments in emerging technologies and strategic acquisitions. Meanwhile, Qburst's founders will maintain a significant stake, ensuring continuity in practices and values.

(With inputs from agencies.)