Engineering solutions company QuEST Global Services Pte. Ltd has acquired information technology firm Exilant Technologies Pvt. Ltd for an undisclosed sum.
The acquisition will strengthen Singapore-based QuEST’s technology capabilities and expand its footprint in the high-tech industry, the company said.
Ajit Prabhu, chairman and chief executive of QuEST, said the acquisition of Exilant is strategic as it broadens the firm’s customer base and expertise to meet its customers’ needs in rapidly changing markets.
Bengaluru-based Exilant is QuEST’s fourth acquisition this financial year. The earlier acquisitions were Munich-based Detech Fahrzeugentwicklung, Romania-based IT Six Global Services and Singapore’s Mobiliya Technologies.
Incorporated in 2004, Exilant provides software products and services for product-engineering services, mobility, social media applications, business intelligence and analytics, and cloud-based services. It has a workforce of more than 900 employees across India, Singapore, London and the US.
The company’s consolidated total income stood at Rs 377.14 crore and profit after tax Rs 32.27 crore for the year to March 2017, according to VCCEdge, the data intelligence platform of VCCircle.
QuEST was co-founded by Ajit Prabhu and Aravind Melligeri in 1997.
It is a global engineering solutions provider to companies in sectors including aerospace and defence, high tech and industrial, medical devices, oil and gas, power, and transportation.
In 2016, US private equity firm Bain Capital, Singapore sovereign fund GIC Pte. and US private equity firm Advent International invested $350 million (Rs 2,400 crore) to acquire minority stakes in QuEST from US private equity firm Warburg Pincus and other existing shareholders.
Like this report? Sign up for our daily newsletter to get our top reports.