Bangalore-based QuEST Global Engineering Pvt Ltd has acquired NeST Software Pvt Ltd, an engineering and embedded services arm of Kochi-based NeST Group, for an undisclosed amount, the company said in a release.
Although the deal value was not disclosed, separate media reports citing the company said it has acquired 84 per cent for Rs 500 crore ($81.4 million).
The acquisition is a significant move for QuEST Global in its diversification strategy for 2020. It will strengthen the width and depth of engineering service offering to QuEST’s customers in terms of engineering software, embedded systems, mechanical systems and structures, and also enhance QuEST’s capabilities in energy and transportation, and add on other verticals such as healthcare, communication & consumer, semiconductor to QuEST’s portfolio.
Founded in April 1995, NeST Software is an engineering software services company servicing Fortune 500 clients across the US, Japan, Europe and India. Currently, the firm offers product engineering, value engineering and sustenance services across research, development, validation, and in service stages of product life cycle. It employs 1,900 people across the globe.
"When NeST Group was planning to divest, we were looking for a potential consolidator who has a proven track record, market reputation and engineering focus just as NeST. QuEST was the best fit. Together QuEST and NeST Software have significant growth opportunities," said Javad Hassan, founder and chairman of NeST Group.
"NeST Software has talented and experienced engineering software and embedded system engineers across various verticals. By integrating our talented engineering teams worldwide, we will be able to emerge as a top preferred engineering partner for our customers," said Ajit Prabhu, CEO, QuEST Global.
Founded by Aravind Melligeri and Prabhu in 1997, QuEST Global offers civil engineering, design automation and drafting and 3D modelling services. The Warburg Pincus-backed firm also offers manufacturing engineering, plant design engineering, project management and planning support services.
In February this year, it acquired US-based engineering firm Beeken TechQuest Ltd and three years ago had acquired the engineering services division of UK-based GKN Aerospace Services Ltd.
(Edited by Joby Puthuparampil Johnson)
