IT Staffing Report: Jan. 4, 2018

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India’s Quess Corp buys stake in firm for smart city projects

Quess Corp (QUESS:NSI), a Bengaluru, India-based staffing firm, on Dec. 17 acquired a 51% stake in Trimax Smart Infraprojects Private limited. Quess is acquiring the stake for INR 20 million (USD $312,000).

Quess first announced the transaction on Nov. 24.

Trimax is a new firm, first incorporated on July 13 of this year. The company is a privately-listed firm based in Mumbai and is involved in business services activity.

Trimax Smart Infraprojects is proposed to be operated as a Joint Venture between Quess Corp and Trimax IT Infrastructure and Services to implement smart city project in Ahmedabad. 

Quess Corp stated that the stake in Trimax will help it in gaining relevant experience and qualification for future smart city projects.

Recently, Quess Corp acquired Tata Business Services as well as Vedang Cellular Services.