QuEST Global

Hillhouse has acquired a minority stake in Quest Global, with a primary capital infusion and share purchase from existing investors to support the firm's engineering-focused growth strategy

The percentage of stake acquired by Carlyle and Prabhu was not disclosed as part of the announcement

Ajit Prabhu, chairman and chief executive officer of Quest Global, will acquire an additional stake in the company

Quest Global is also betting on semiconductor chip design and fabrication machinery

Accion Labs is focused on digital transformation in global enterprises and tech firms. It has more than 4,800 employees globally, spread over 20 locations

The existing investors - Bain Capital, Advent, and GIC, continue to remain invested. O3 Capital acted as the sole financial advisor to the transaction

This acquisition will enable QuEST's vision to grow its semiconductor business, add at least 2,000 engineers in the next four years

QuEST, incepted as a Bengaluru-based company before shifting the headquarters to Singapore, has set a target of achieving $1 bn in revenues by FY21 as a part of its 2020 plan

Bain Capital, GIC, Advent buy out Warburg Pincus, some angel-stage investors