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Multiples buys control of AI-focused QBurst
Mint Kolkata
|February 07, 2024
PE firm picks majority stake for $200 mn in its biggest tech services bet
Multiples, an alternative asset management company, has acquired a controlling stake in software development company QBurst for around $200 million, marking its largest investment in the technology services space so far.
The acquisition of QBurst marks the beginning of such large-scale transactions for Multiples founder, managing director, and CEO Renuka Ramnath said in a statement. While it is unclear exactly how much of a stake Multiples PE has in the software company, founders Prathapan Sethu, Binu Dasappan and Ansar Shihabudeen are expected to continue to stay on.
Dit verhaal komt uit de February 07, 2024-editie van Mint Kolkata.
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