~Acquisition will help UST expand its product engineering and semiconductor engineering footprint~
UST, a leading digital transformation solutions company, announced that it has acquired Accrete Hitech Solutions, a consulting and outsourcing company that provides information technology and engineering services focusing on hi-tech, semiconductor, and networking. UST is a leader in the product engineering space, and this acquisition will further add scale and depth into the digital product engineering portfolio for UST.
UST has continued to grow inorganically through acquisitions and strategic investments, adding and enhancing its digital portfolio and capabilities across various industry verticals. Along with its innovation ecosystem and customer-centric philosophy, the company has experienced a higher than industry average organic growth.
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Commenting on the acquisition, Sunil Kanchi, Chief Investment Officer and Chief Information Officer, UST, said, “At UST, we are laser-focused on expanding and improving our deep digital product engineering capabilities, and the acquisition of Accrete Hitech Solutions will help us achieve that goal. Together, we will create world-class solutions to empower organizations to streamline their operations.”
Accrete Hitech Solutions was founded in the heart of Silicon Valley with headquarters at Santa Clara, CA, US, and has offices in New Delhi, Gurgaon, Chennai, Bengaluru in India, and Singapore.
The Accrete acquisition will combine the strengths and resources of the two companies to offer a broad range of IT and product engineering solutions and services. These include:
- Engineering services: Mechanical engineering design; Manufacturing engineering; Electrical and electronic services; Supply chain management and operations, among others.
- IT services: SAP CC; SAP CRM; Mobility, Network security, IT infrastructure, and software engineering, among others.
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“The highly experienced team of engineers and technologists from Accrete comes with a broad range of technology and engineering skills that will complement the existing global capability of UST. Together, our two companies will accelerate the digital-first journey of organizations worldwide,” said Gilroy Matthew, VP, and Head of Semiconductor, UST.
“We are excited to be a part of a fast-growing global organization like UST,” said Sanjay Minocha, CEO and Managing Director, Accrete Hitech Solutions. “Our focus has been to help businesses derive value through digital transformation via our IT and Engineering capabilities. Under the UST umbrella, we hope to make an even bigger impact in areas like networking and semiconductor services and solutions.”
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