Fairfax-controlled business services provider Quess Corp Ltd has announced the acquisition of a significant minority stake in Coimbatore-based Heptagon Technologies Private Limited, a software development company, as it looks to cut costs and ramp up digitization of business processes.
Quess Corp will acquire 26 per cent in the tech company for Rs 5.55 crores through an all-cash deal that is expected to be completed in a month.
The investment is expected to generate several synergies, including cost-reduction at Quess' IT staffing solutions and digital transformation projects. The deal is also likely to enhance sales for the industrial Internet of Things (IoT) business of Quess.
Heptagon, which was founded by a team of IT and computer science engineers in 2015, is engaged in niche software development, machine learning and automation technologies.
Quess Corp, one of India’s leading integrated business services providers was established in the year 2007. Headquartered in Bengaluru, the company has a pan-India presence with its 47 offices spread across 27 cities, as well as operations in North America, the Middle East as well as South East Asia. It serves more than 1300 customers across 4 segments such as, Global Technology Solutions, People & Services, Integrated Facility Management as well as Industrial Asset Management.
Quess Corp is committed to providing a world-class customer experience while continuously working towards creating a better life for the people.
Quess Corp share price closed at Rs 730.95, up by 7.26 per cent or 49.70 points. The share price touched a new life time high of Rs 744.00 in today’s trading session by breaking the previous high of Rs 547.50 made on 28th July 2016.
Quess Corp is one of the top 500 shares recommended by the research and analysis team of Dynamic Levels. Get the historical share price performance of Quess Corp at Quess Corp share price history.
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