Quess Corp Ltd, India’s leading business services provider, announced today that it has agreed to divest its wholly-owned subsidiary, Qdigi Services Limited, to Onsitego, India’s #1 device-care provider.
As part of the transaction, the entire team and business of Qdigi will be transferred to Onsitego. Quess will receive total cash consideration of ₹80 cr., subject to customary closing adjustments. Quess will be acquiring a minority stake in Onsitego. The transaction is expected to be completed over the next 2-3 months.
Speaking on the occasion, 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. Quess Corp helped Qdigi team to scale and create an unparalleled pan India customer reach and service capabilities. 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, “Being a part of the Quess family since 2018 has helped us build scale by leveraging Quess’ platform and the management expertise. Integration of Qdigi services with Onsitego will help both businesses accelerate growth and create a more enriching service experience for our customers.”
Rationale for Transaction
For Quess, the transaction is aligned to overall strategy of corporate structure simplification. Whereas, Qdigi’s capabilities will highly complement the device protection business of Onsitego. It will allow Onsitego to enrich its customer service experience and also open up new areas of growth.
About Quess Corp Limited:
Established in Bengaluru in 2007, Quess Corp Limited (BSE: 539978, NSE: QUESS) is India’s leading business services provider – that leverages its extensive domain knowledge and future-ready digital platforms to drive client productivity through outsourced solutions.
Quess provides a host of technology enabled staffing and managed outsourcing services across processes such as sales & marketing, customer care, after sales service, back office operations, manufacturing, facilities and security management, HR & F&A operations, IT & mobility services etc. Quess has a team of ~5,57,000 employees serving ~3,000 clients across India, North America, APAC, and the Middle East as on Dec. 31st, 2023.
For further details on Quess Corp Limited, please visit https://www.quesscorp.com
About Qdigi Services Limited:
Founded in 2000, Qdigi Services Limited (Qdigi) operates as the after sales service provider for leading consumer electronics brands through its service centers across the country. It provides direct service to >2 million customers per annum via 200+ multi-brand service centers and 80+ OEM exclusive service centers across 650+ towns in 25+ states.
For further details on Qdigi, please visit: https://www.digicare.com https://quesscare.com
About Onsite Electro Services Private Limited:
About Onsite Electro Services Private Limited:
Onsitego is India’s #1 device care company for digital devices, consumer electronics, and home appliances. They offer Extended Warranty, Damage Protection, and AMC Plans for all digital devices and home appliances. Over the years Onsitego has established strong relationships with a majority of India’s large retailers such as Vijay Sales, Croma, Bajaj Electronics, Girias, Big C, Lot, Great Eastern, Phonewale, Amazon, and many more. With its pan India retailer network of over 10,000 stores, Onsitego has covered more than 1.5 Crore devices. Onsitego is backed by Accel, Zodius & others.
