New Delhi, Feb. 6 -- Multiples, an alternative asset management company, has acquired a controlling stake in software development company QBurst for around $200 million, marking its largest investment in the technology services space so far.

The acquisition of QBurst marks the beginning of such large-scale transactions for Multiples, founder, managing director, and CEO Renuka Ramnath said in a statement. While it is unclear exactly how much of a stake Multiples PE has in the software company, founders Prathapan Sethu, Binu Dasappan and Ansar Shihabudeen are expected to continue to stay on.

Founded in 2004 by the trio, QBurst develops digital solutions across the spectrum, from digital marketing for companies to cloud consulting services...