HCL Technologies, announced on Monday that it will acquire Bengaluru-based Quest Informatics Private Limited (Quest), an aftermarket, industry 4.0, and IoT company.

According to the company’s statement, the acquisition will be all-cash and completed through HCL’s wholly-owned subsidiary.

“Quest will help expand HCL Technologies’ Industry 4.0 offerings into the fast-growing aftermarket space. Quest’s suite of aftermarket solutions and products will be valuable to transportation and manufacturing clients globally in their digital transformation journey,” said Sukamal Banerjee, Corporate Vice President, Industry Software Division and IoT WoRKS™, HCL Technologies.

According to the statement, Quest currently serves more than 40 global leaders in the aftermarket space with its cloud-enabled aftermarket ERP, field services management, and digital parts catalogue product suites.

“In addition, Quest’s existing customers will benefit from HCL Technologies‘ scale, reach, and R&D prowess,” Banerjee explained.

Furthermore, aftermarket digital spending in the transportation and manufacturing industries is one of the fastest-growing segments.