HCL Technologies to buy after-market ERP software firm Quest Informatics
HCL Technologies, through its fully-owned subsidiary Sankalp Semiconductors Private Limited, will acquire Bengaluru-based Quest Informatics, an aftermarket, Industry 4.0, and Internet of Things (IoT) company, for INR 15 crores in cash.
Established in 2000, Quest Informatics operates as an after-market digital transformation company, which caters to the automotive and construction equipment industries in the after-market enterprise resource planning (ERP) space.
Presently, Quest Informatics is said to serve over 40 global leaders in the aftermarket sector with its cloud-enabled aftermarket ERP, digital parts catalog product suites, and field services management.
According to HCL Technologies, digital spending in the aftermarket space is among the quick-growing segments in the transportation and manufacturing sectors.
Commenting on HCL acquisition of Quest Informatics, Rudresh Basavarajappa — CEO and Chairman of Quest Informatics, said: “HCL Technologies’ global reach and expertise combined with Quest Informatics’ deep domain knowledge will help accelerate product innovation and drive a global reach for continued growth. The acquisition will create synergies and enable meaningful engagements with customers in the end-to-end digital aftermarket space.”
Quest Informatics is expected to help grow HCL Technologies Industry 4.0 offerings into the aftermarket space. The Bengaluru firm’s products are said to be complementary to the IoT, Digital after-market and Industry 4.0 offerings of HCL Technologies, apart from being valuable to the latter’s transportation and manufacturing customer base.
Sukamal Banerjee — Corporate Vice President, Industry Software Division and IoT WoRKS, HCL Technologies, commenting on HCL acquisition of Quest Informatics, said: “Quest will help expand HCL Technologies’ Industry 4.0 offerings into the fast-growing aftermarket space. Quest’s suite of aftermarket solutions and products will be valuable to transportation and manufacturing clients globally in their digital transformation journey.
“Additionally, Quest’s existing customers will benefit through HCL Technologies’ scale, reach and R&D prowess.”
The acquisition, which is not subject to any government or regulatory approvals, is likely to be wrapped up by 31 July 2022.
Recently, HCL Technologies signed a deal worth $54 million to acquire Confinale, a Switzerland-based digital banking and wealth management consulting company. Read here about HCL acquisition of Confinale.