Digital transformation solutions company UST has acquired Accrete Hitech Solutions, a consulting and outsourcing company that provides information technology and engineering services focusing on hi-tech, semiconductor, and networking.
This acquisition is intended to further add scale and depth into the digital product engineering portfolio for the California-based 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.
“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,” said Sunil Kanchi, UST’s chief investment officer and chief information officer. “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, California, and has offices in New Delhi, Gurgaon, Chennai, Bengaluru in India, and Singapore.
The acquisition of Accrete 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 and IT services.
“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,” said Gilroy Matthew, VP and head of semiconductor at UST.
Sanjay Minocha, CEO and managing director of Accrete Hitech, said that under the UST umbrella, they hope to make an even bigger impact in areas like networking and semiconductor services and solutions.