Quess Corp Ltd, a business services provider, has announced its decision to divest its wholly owned subsidiary, Qdigi Services Ltd, to Onsitego, a device-care provider, for ₹80 crore.

As part of the transaction, the entire team and business of Qdigi will be transferred to Onsitego. Quess will receive a total cash consideration of ₹80 crore, subject to customary closing adjustments. Quess will acquire a minority stake in Onsitego. The transaction is expected to be completed over the next 2-3 months, the company said in a release.

Commenting on the acquisition, Kunal Mahipal, Founder & CEO, Onsitego, said, “The acquisition of Qdigi will add to our service capabilities and market offerings. While we will expand Qdigi’s existing relationships, we are also looking to target new OEM partners and retailers to accelerate growth. I am sure together we will be able to create India’s largest and the most customer-obsessed service company.”

Guruprasad Srinivasan, ED & CEO, Quess Corp Ltd, said, “In line with the corporate structure simplification process of business lines, we have divested our stake in Qdigi. We believe that going forward the Qdigi business is hugely complimentary to the offerings of Onsitego, while Onsitego will provide the platform for the next level of growth in Qdigi business.”

Deven Sharma, CEO, Qdigi Services Ltd, said, “Integration of Qdigi services with Onsitego will help both businesses accelerate growth and create a more enriching service experience for our customers.”

Published on February 7, 2024