Quess Corp buys Vedang Cellular

Business services provider Quess Corp on Wednesday announced the acquisition of a majority stake in Mumbai-based Vedang Cellular Services and a joint venture with another Mumbai-based firm, Trimax IT Infrastructure and Services, to implement a smart city project in Ahmedabad to create city-wide IT Infrastructure.

“The joint venture marks Quess' entry into the smart city segment, thereby expanding our industrials vertical. We believe, with these set of strong numbers and strategic investments, we are well poised to maintain our growth trajectory for the future,“ Quess CEO Ajit Isaac said in a press release.

The Bengaluru-headquartered company, controlled by Fairfax Group, also reported a 25% rise in its revenues and a 367% increase in net profits, year-on-year, for the September quarter. The company's revenues, Isaac said, grew 7% on a quarter-on-quarter basis, and achieved solid organic growth despite a challenging economic environment.

The company's employee headcount, as on September 30, rose to 2,12,500 compared to 1,39,000 employees last year.