QuEST Accelerates on its M&A Strategy and Makes Large Acquisition with Exilant
QuEST Global Services is accelerating on its M&A strategy and has made its second acquisition of the year, with Exilant Technologies, a Bangalore-headquartered firm founded in 2004. Exilant is a large acquisition and brings 900 FTEs. The company has offices in Singapore, London, and Santa Clara, CA.
Exilant has a service portfolio spanning across IT services and ER&D, with capabilities clearly outside of the scope of QuEST such as ERP products, software testing services, SaaS services, and ADM. This is showing in the client base of Exilant, which spans across retail, CPG, BFSI, construction, and textile and apparel as well as public sctor, pharma, and high-tech/ISVs. Exilant is however also bringing BI and big data, mobility, IoT, and embedded systems skills that will find well its place in the service portfolio of QuEST.
QuEST had stated it wanted to expand into digital: something it had done last month with the acquisition of Mobiliya, which brought 400-500 FTEs in AI, AR/VR, and IoT. The company continues its rapid build-up strategy. We suspect that finding digital targets is difficult without moving into IT services. Thus the acquisition of Exlilant in both IT services and ER&D services. In all likelihood, at some point, QuEST will make an adjustment in its portfolio and divest its non-technical IT services such as ERP and ADM.