Quess has decided to split the company into three separately listed companies.
Quess Corp: Dedicated to Workforce Management
Digitide Solutions: Focusing on BPM solutions, Insurtech, and HRO business
Bluspring Enterprises Ltd: Specializing in Facility Management, Industrial Services, and Investments
Quess has a workforce of more than 550,000 associates across four key business platforms. Quess serves over 3,000 clients across various sectors, boasting a robust customer experience. These platforms encompass Workforce Management, Global Technology Solutions, Operating Asset Management, and Product-Led Businesses.
The rationale behind the demerger includes simplifying the corporate structure, enhancing strategic clarity, optimizing capital allocation, and fostering independent strategies tailored for value creation.
Fairfax Financial Holdings is the largest shareholder of Quess Corp.
Shareholders are set to receive one additional share for each of the new companies for every share held in Quess Corp. The demerger process is anticipated to span between 12 to 15 months, subject to regulatory approvals.
Ajit Isaac, Chairman of Quess Corp, has expressed his optimism, stating, “This is a landmark moment for Quess. It helps the management to focus, develop capital allocation plans relevant to each business, and create value for our shareholders.”
Quess Corp
Quess Corp is the largest workforce management entity in India, providing solutions to clients to hire and deploy staff, manage performance and outcomes, measure and upskill employees. Quess Corp has a workforce of 440k+, with 6k+ in the tech sector, and ~6k working outside India.
Digitide Solutions
Digitide Solutions will provide a suite of solutions, including BPM solutions, Insurtech and HRO business.
Globally, Business Process Management (BPM) market is at over $200 billion whereas the Indian market is at $2 billion. Next-generation technologies like artificial intelligence (AI) are expected to open new avenues for value creation.
Digitide targets to achieve a revenue milestone of $1 billion which denotes a significant increase from its current revenues of $280 million+. Serving across 30 countries, with delivery centers in Manila and India, the company is well-positioned to take advantage of emerging BPM opportunities across diverse sectors.
Bluspring Enterprises
Bluspring Enterprises offers services such as Facility Management and Security Services (Man-guarding and tech-guarding), Telecom Infrastructure Maintenance, and Industrial Services. Additionally, Quess’ investment in foundit – a white-collar job portal and candidate services platform under Bluspring Enterprises, will experience a significant uptick, driven by its futuristic AI technology-driven platform.
