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India – Quess Corp signs agreement to acquire 46% stake in Heptagon Technologies

23 June 2017

Quess Corp, an Indian staffing services firm, has announced that it has signed a definitive agreement to acquire a 46% equity in Heptagon Technologies.

The transaction entails a cash consideration of INR 97 million (USD 1.5 million).

Earlier this year, Quess Corp announced that it had received approval for an additional investment of INR 42 million (USD 0.6 million) in the form of primary equity in Heptagon Technologies for a 20% stake. Heptagon Technologies is a niche software development company working with machine learning and automation technologies. Quess Corp first announced a 26% stake in the company earlier this year.

The company has been on an acquisition spree as of late, most recently purchasing Singapore-based Comtel Solutions.

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