India's Quest Global bought American engineering firm Beeken
Bangalore, India-based outsourced engineering solutions provider Quest Global Engineering added Houston, US-based engineering firm Beeken TechQuest for an undisclosed sum to meet the engineering workforce demand in the oil & gas industry. , according to The Times of India.
In India, the demand for oil is on a steep rise. However, oil now has to be taken from places that are more difficult to reach. Therefore, the country needs newer equipment to do the work, the report explained.
Quest senior VP for sales Steve Gerber said: "In Houston, which is literally the centre of the universe for oil & gas, the workforce is aging, and there's a shortage of some 10,000 engineers. So outsourcing is inevitable."
Beeken, a company that outsources engineering workforce for the oil and gas industry, was established in 2004 by B N Murali. The firm currently employs 42 workers in India and 23 in Texas, the report detailed.
Quest Global was founded in 1997 by Ajit Prabhu. In 2010, private equity firm Warburg Pincus paid $75 million to buy a 25% stake in the engineering firm. The company currently employs 4,400 workers across India, North America, and Europe, said the report.
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