News Post

Multiples PE emerges front-runner for majority stake in IT services firm QBurst at around $300 mn valuation

Money Control · 26d

- Renuka Ramnath-led private equity firm Multiple PE is in advanced stage negotiations to acquire a controlling stake in QBurst, a global IT services firm. - The founders of QBurst are open to diluting a majority stake and are looking at a valuation of around $300 million for the entire firm. - QBurst offers cognitive solutions and custom software development services to micro to large enterprises and has a presence in multiple countries. - QBurst's clients include Airtel, AstraZeneca, Mercedes Benz, National Geographic, and more, and they have partnerships with Amazon, Salesforce, Google, and Microsoft. - The deal activity in the IT services segment has been picking up, with recent acquisitions and investments in healthcare-focused solutions providers.