KOCHI: : Diversified engineering solutions company QuEST Global has acquired 84 per cent stake in NeST Software for slightly over `500 crore. The acquisition will add 1,900 employees, taking QuEST’s total staff strength to 6,850. About 4,500 of QuEST’s employees are in India, 1,350 in the U.S. and 1,000 in Europe.
NeST, a US$200-million enterprise, was founded in April 1995 by Silicon Valley entrepreneur Javad Hasan. It is a premier engineering software services company servicing Fortune-500 clients across the U.S., Japan, Europe and India.
With over 1,900 employees, NeST Software, like QuEST, has vast experience in establishing and operating dedicated offshore development centres for global MNCs.
“The company currently offers product engineering, value engineering and sustenance services across research, development, validation, and in service stages of product lifecycle,” a press release stated. “The acquisition is a significant move towards QuEST Global’s diversification strategy for 2020, which will strengthen the width and depth of the engineering services offered to customers, in terms of engineering software, embedded systems, mechanical systems and structures,” it further said.
“We were looking for a potential consolidator who has proven track record, market reputation and engineering focus, just like NeST. QuEST was the best fit.
Together, QuEST and NeST Software have significant growth opportunities,” said NeST Group founder/chairman Javad Hassan.
NeST Software president S Narayanan said that the integration of the two companies would bring great opportunities for customers and employees.
Commenting on the acquisition, QuEST Global CEO Ajit Prabhu said, “to emerge as the most trusted and long-term engineering solutions providers for our customers, we are constantly on the lookout for assets with outstanding engineering capability.”