Quality Assurance Institute (QAI) India, an operational excellence company, has bought out its US parent company. Now all of QAI's international subsidiaries - which include USA, India, Singapore, Malaysia, China, UK and Canada - have merged into one global organization. Navyug Mohnot, CEO and President of QAI India will now be the CEO of the global organisation.
QAI India hsa bought out the stake of Bill Perry, founder of the QAI USA. QAI India has raised funding from Prudential ICICI and Canada-based Chescor Capital. BTS India Private Equity Fund has recently invested Rs 24 crore in QAI India. The acquisition has been funded through this recent fund infusion. According to this report the deal is under $15 million. QAI India posted revenues of around Rs 70 crore last year.
"By leveraging the best talent from QAI's global operations, QAI can provide integrated and deep set of interventions in client organizations resulting in operational efficiencies, quality, customer satisfaction and competitiveness in the target companies," said Mohnot.
QAI India claims to be only Indian company providing "Operational Excellence" to IT, ITeS and other knowledge based industries. It has a presence in all the segments such as consulting, training, implementation and certification. QAI has 200 clients across 30 countries which include IBM, Accenture, Wipro, Prudential, Genpact, American Express, Sony, TataMotors.