Multiples announces acquisition of controlling stake in QBurst by investing more than INR 1500 Crores

Multiples to drive accelerated growth through exceptional talent addition and strategic acquisitions
Strategic partnership set to accelerate QBurst’s global expansion while staying rooted in Kerala

Multiples Alternate Asset Management (“Multiples”), along with its co-investors, announced that it has signed definitive documents to acquire a controlling stake in a high-growth digital product engineering platform, QBurst (“the Company”). This transaction, with an investment of more than INR 1500 Crores marks Multiples’ largest control investment in technology services.Founded in 2004 by Prathapan Sethu, Binu Dasappan, and Ansar Shihabudeen, Kerala-based QBurst has grown into a global leader in digital solutions, offering services in Digital Product Development, Enterprise Digitalization, Data Analytics, Cloud Services, AI & Generative AI Services, Automation, DevOps, and Digital Marketing Enablement.

The company that was founded in Trivandrum is now present across 21 cities across 11 countries. QBurst is one of the largest technology services companies in Kerala, with offices in Kochi, Trivandrum, Kozhikode and Koratty. With a technology first approach, QBurst is able to service global clients across markets like North America, Japan, Middle East and Europe.This investment from Multiples, a homegrown Private Equity firm with 15 years of experience and a robust portfolio of over 30 companies across five sectors, marks a transformative milestone in QBurst’s 20-year journey.

Multiples’ focus on People and Partnerships has been fundamental in driving sustainable growth and value creation across its investments. Having demonstrated its ability to drive significant value creation in companies like PVR INOX, Dream Sports, Acko, Delhivery and more, Multiples brings promising potential to this partnership. Its proven track record of going beyond capital investment — through strategic guidance, operational expertise, and bringing best-in-class talent — coupled with its deep understanding of Indian entrepreneurs, positions QBurst very well for accelerated growth.

Renuka Ramnath, Founder & CEO of Multiples, said,“QBurst represents the best of Kerala’s entrepreneurial spirit and technical excellence, and this exceptional talent pool has been instrumental in propelling the company’s evolution into a global force. While Multiples holds a controlling stake, the founders – Prathapan Sethu, Binu Dasappan and Ansar Shihabudeen – will continue to have a meaningful stake, ensuring the continuity of the best practices and values that have shaped the company’s growth.

Our partnership will further drive the company’s growth trajectory through strategic acquisitions and talent development, particularly strengthening its Kerala operations. With our extensive experience in scaling technology businesses and our global network, we are uniquely positioned to help QBurst achieve its full potential.”Prathapan Sethu, Co-founder of QBurst, said,“In the last two decades, we’ve built QBurst with a focus on innovation and excellence, growing from a Kerala-based startup to a global digital engineering force. In Multiples, we’ve found a partner who not only shares our vision but brings the strategic prowess to accelerate our global ambitions while preserving our core values. This partnership opens up exciting growth opportunities for all our employees and will help us achieve something extraordinary in the years ahead.”