Ace Software Exports acquires 100% stake in QeApps for ₹12 crore
- Acquired 100% stake in QeApps Private Limited for ₹12 crore
- QeApps reported FY26 revenue of ₹95 lakh, up from ₹65 lakh in FY25
- Infused ₹1 crore into QeLearn and ₹7 crore into QeMFG subsidiaries
- Funding sourced from net proceeds of the recent Rights Issue
*this image is generated using AI for illustrative purposes only.
Ace Software Exports Limited has completed the acquisition of 100% equity share capital in QeApps Private Limited for a total consideration of ₹12 crore. This transaction makes QeApps a wholly owned subsidiary of the company, expanding its footprint in the e-commerce software sector.
The acquisition involves 10,000 fully diluted equity shares. QeApps specializes in developing applications for the Shopify platform, offering solutions for product bundling, upselling, and checkout optimization. The target entity reported revenue from operations of ₹95 lakh in FY26 and ₹65 lakh in FY25.
Related Party Transaction Details
The acquisition qualifies as a related party transaction as certain members of the promoter and promoter group hold shares in QeApps. The company stated that the deal was executed at arm's length, based on a valuation report by Chartered Accountant Jigar P. Shah and subsequent shareholder approval.
Investments in Existing Subsidiaries
Concurrently, Ace Software Exports infused additional capital into two existing wholly owned subsidiaries to support their business operations:
- QeLearn Private Limited: Received an investment of ₹1 crore. Formerly known as Theia Education Private Limited, this ed-tech firm uses AI to enhance learning processes. Its revenue stood at ₹123.47 lakh in FY26 and ₹100.66 lakh in FY25.
- QeMFG Private Limited: Received an investment of ₹7 crore. This entity focuses on digital products including SaaS and mobile solutions. It recorded revenue of ₹94.78 lakh in FY26, compared to nil in FY25.
These investments do not alter the company's shareholding percentage in either subsidiary, as they remain wholly owned.
What the Numbers Show
The financial disclosures reveal a rapid scaling trajectory for the newly acquired and supported entities. QeApps demonstrated a 46% year-on-year revenue growth from FY25 to FY26, rising from ₹65 lakh to ₹95 lakh. Similarly, QeMFG transitioned from zero revenue in FY25 to ₹94.78 lakh in FY26, indicating successful market entry or product launch within the last fiscal year. The combined revenue contribution from these three entities (QeApps, QeLearn, and QeMFG) for FY26 totals approximately ₹313.25 lakh, highlighting their growing significance to the parent company's portfolio.
Funding Source
The acquisitions and investments were funded through the net proceeds of the Rights Issue. This allocation aligns with the objects specified in the Letter of Offer dated November 14, 2025, as revised following shareholder approval at the 32nd Annual General Meeting held on September 28, 2026.
Historical Stock Returns for Ace Software Exports
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.95% | -6.91% | -9.42% | +16.16% | -35.38% | +2,331.55% |
How will the integration of QeApps' Shopify-specific solutions impact Ace Software Exports' ability to cross-sell to its existing enterprise clients?
Given the related party nature of the QeApps acquisition, what specific governance safeguards are in place to prevent potential conflicts of interest in future transactions?
With QeMFG transitioning from zero to nearly ₹95 lakh in revenue within one year, what is the projected timeline for this subsidiary to achieve operational profitability?
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