Multiples PE buys majority stake in QBurst

Homegrown PE fund Multiples Alternate Asset Management, along with its co-investors, will acquire a controlling stake in a engineering platform, QBurst, the PE funds said on Thursday.

This transaction, with an investment of $200 million, marks Multiples' largest control investment in technology services.

Founded in 2004, QBurst offers services in Digital Product Development, Enterprise Digitalization, Data Analytics, Cloud Services, AI & Generative AI Services and Digital Marketing Enablement.


With a presence across North America, Japan, Middle East, Europe and India, the company has over 3,000 employees.

Prathapan Sethu, cofounder of QBurst, said, “While we are proud of transforming QBurst from a startup into a global digital engineering force over the past two decades, I believe our partnership with Multiples will help us achieve something extraordinary in the years ahead.”

While Multiples holds a controlling stake, the founders - Prathapan Sethu, Binu Dasappan and Ansar Shihabudeen - will continue to have a meaningful stake, it said.

Renuka Ramnath, Founder, MD & CEO of Multiples, said, "Our partnership will drive transformational success for the company, backed by exceptional talent addition, increased investments in emerging technologies and strategic acquisitions.

Multiples invested in companies such as ACKO, Delhivery, Dream Sports, Encube, India Energy Exchange, Kogta Financial, Licious, Milltec, MoEngage, PVR, Quantiphi, TI Clean Mobility, Vastu Housing Finance, and Zenex.