Private equity firm Multiples Alternate Asset Management, along with co-investors, is set to acquire a controlling stake in Thiruvananthapuram-based digital product engineering company Qburst for $200 million (around ₹1700 crore).
Qburst, founded in 2004, provides services such as digital product development, enterprise digitalisation, data analytics, AI, cloud solutions, automation, DevOps, and digital marketing enablement. The company claims it has about 3,000 employees across North America, Japan, the Middle East, Europe, and India.
“This partnership will help drive big changes for the company with better talent, new investments in emerging technologies, and strategic acquisitions,” said Renuka Ramnath, founder and CEO of Multiples.
The company’s founders — Prathapan Sethu, Binu Dasappan, and Ansar Shihabudeen — will continue to hold a significant stake, ensuring business continuity.
Multiples is looking to scale up its presence in the US and hinted at more large transactions in the future. Manish Gaur, managing director at Multiples, said they plan to invest nearly $2 billion (about ₹16,500 crore) in enterprise technology over the next five years.
“We’re excited about the opportunities this partnership brings,” said Sethu, expressing optimism about the road ahead.
