UST (company) explained

UST
Type:	Private
Hq Location City:	Orange County, California
Hq Location Country:	United States
Former Name:	UST Global^[1]
Area Served:	Worldwide
Revenue:	USD $1.7B+ (2022)
Num Employees:	30,000+ ^[2]
Num Locations:	30 countries^[3]
Homepage:	www.ust.com

UST, formerly known as UST Global, is a provider of digital technology and transformation, information technology and services, headquartered in Aliso Viejo, California, United States.^[4] Stephen Ross founded UST in 1998 in Laguna Hills.^[5] The company has offices in the Americas, EMEA, APAC, and India.^[6]

In June 2018, Temasek, Singapore’s sovereign wealth fund, invested million in UST, giving UST a billion-plus valuation.^[7]

Services

UST offers services in many areas including:

digital transformation,^[8] cybersecurity, data analytics, data engineering, technology and digital consulting, supply chain management, cloud infrastructure, developer productivity, quality engineering, IT talent sourcing, innovation as a service, legacy modernization, human-centered design, AMS, semiconductor engineering, IOT engineering, intelligent process automation, artificial intelligence, machine learning, and technology strategy, intelligent automation and BPaaS.^[9] Examples of specific services include:

Cloud

In 2020, UST released UST CloudDesk and UST MultiCloud Manager.^[10] UST CloudDesk enables enterprises to move workloads between different cloud platforms. UST MultiCloud Manager, an IT-as-a-service platform, allows users to have a zero-touch, single-pane view of their entire IT environment.^[11]

DevOps

UST offers development and operational services such as data management, analysis, and automation for DevSecOps, and digital and cloud transformation.^[12] This includes PACE, a product used for implementing and optimizing cloud-native DevOps.^[13]

In July 2020, UST invested in Smart Software Testing Solutions (SSTS) Inc. to incorporate intelligent testing and digital validation for its Software Validation and Test Automation. SSTS's platforms allow testers to perform manual and automation testing on more than 5000 device-browser combinations.

Cybersecurity

In July 2020, UST's company CyberProof became an official member of the Microsoft Intelligent Security Association.^[14]  CyberProof monitors security alerts and suspicious events collected from internal and external customer data sources and detects threats in cloud and on-premises infrastructure threats.^[15]

Acquisitions

UST invests and acquires companies.^[16]

• In January 2004, UST acquired Inc.
• In March 2012, Andare, a mobile applications company, was acquired by UST.^[17] In January 2014, the company acquired Testhouse Consultores S.A., the Spanish arm of UK-based Testhouse Limited.^{[18] [19]}
• In May 2014, UST acquired Kanchi Technologies, a Milwaukee-based engineering company, and Xpanxion, a technology firm.^{[20] [21]} Xpanxion provides cloud-based business application development, mobile application development, software testing services, and technology and business consulting.^[22]
• In July 2014, UST invested in xTV, an online TV platform, and acquired Renaissance Solutions, a Singapore-based recruitment specialist.^{[23] [24]} In April 2015, UST acquired FogPanel to boost cloud infrastructure management.^[25]
• In September 2017, UST invested in MyDoc, a Singapore-based digital healthcare firm, to drive population-wide digital health programs, including disease management and health data tracking.^[26]
• In January 2018, Cyberpoof, a cybersecurity company of UST, acquired Bisec, an Israeli startup that created a platform to help security teams collaborate.^[27] The following month, UST acquired American technology startup and Gartner Cool Vendor, Pneuron in an effort to improve its data analytics services.^{[28] [29]} In September 2018, UST acquired SeviTech Systems, a chip design services firm based in Bengaluru.^[30]
• In October 2019, the company acquired SCM Accelerators to help grow its SAP business.^{[31] [32]}
• In November 2019, UST acquired Contineo Health, a healthcare technology consulting firm that specializes in electronic health records (EHR), ComplyUSA, a compliance assessment and privacy automation platform, and AI startup, Cogniphi Technologies.^{[33] [34]}
• In December 2019, Necsia Cybersecurity Division was acquired. The company is a security provider in Spain and the security division of Necsia Group, specializing in cybersecurity and digital transformation services.^[35] The company was merged into the CyberProof security services portfolio after the acquisition.
• In June 2020, UST invested €1.3 million in Ksubaka, a UK-based startup. The portfolio includes gamified tools to engage and keep customers safe post-covid.^{[36] [37]} The following month, UST invested in Smart Software Testing Solutions, a software testing and product company, that utilizes SaaS platforms pCloudy and OpKey.^[38]
• In August 2020, UST invested in Tastry, an AI company that studies how human senses interpret product chemistry.^[39]
• In July 2022, UST announced a strategic investment in Well-Beat, an Israeli start-up with a focus on patient-centred behavioural artificial intelligence (AI).^[40]
• In October 2022, UST HealthProof, a UST company, has acquired Advantasure a Blue Cross Blue Shield - BCBS (M)^[41] arm from MI, USA. The Advantasure is a new brand formed in 2019 under BCBSM comprising other periodic and strategic acquisitions like Visiant, IkaSystems, Tessellate among many others. The Advantasure is a PaaS platform for both Healthcare and BPO clients.

Temasek

• In June 2018, Temasek, Singapore's sovereign wealth fund, invested $250 million in UST, giving UST a $1 billion-plus valuation.^[42]

UST Campus

UST is based in Orange County, California and has offices in more than 25 countries. It is based in the following regions: the Americas, EMEA, APAC, and India.^{[43] [44]}

UST has started its expansion plans in the capital city Thiruvananthapuram with the construction of an own campus, near Technopark.^[45] The campus is spread over 36acres. The campus will also feature a 12acres waterbody channeling through the various blocks of the campus.

Subsidiaries

CyberProof

CyberProof is a fully owned subsidiary of UST and founded in 2017 in Tel Aviv, Israel.^[46]

The company is a security services company.

In January 2018, UST acquired BISEC, a cybersecurity company, for 5.8 million Dollars and integrated the technology into CyberProof.^[47]

CyberProof is headquartered in Aliso Viejo, California, United States and has regional offices in London, United Kingdom; Trivandrum; Singapore and Barcelona, Spain. As of 2021, the company has approximately 500 employees worldwide.

Tony Velleca is the chief executive officer of CyberProof and is a chief information security officer at UST. Yuval Wollman is President of CyberProof and is responsible for the company's Israel-based Development & Operations.

HealthProof

UST HealthProof is the healthcare technology division of UST. In 2023, UST HealthProof acquired healthcare technology company Advantasure.^[48]

Timeline

• 1998 : Stephen Ross founded the company in Laguna Hills, California^[5]

Started Operations in Thiruvananthapuram, Kerala, India

• 1999 : Acquired Pinnacle Consulting.

Magnecomp International, a division of the Singapore Listed Magnecomp Corporation, acquires an interest in UST.

G. A. Menon becomes the company's Non-Executive Chairman.

• 2002 : Dan Gupta joined UST as its chief executive officer.^[49]
• 2003 : Expanded operations with centers in Chicago and New York.
• 2004 : Expanded operations with center in Malaysia.
• 2005 : Acquired Inc^[50]

Assessed at SEI CMMI Level 5 and PCMM Level 5.

Opened BPO operations in Chennai.

• 2006 : Acquired Canada-based QA Labs Inc.^[51]

Initiated European operations with set up of UK office

Acquired 36acres of land for exclusive campus in Thiruvananthapuram.^[52]

• 2007 : Announced USD 130 million expansion plan.^[53]

Expanded operations with new centers in Kochi and Makati.

Entered the 2007 North American Offshore Applications Services Magic Quadrant.

Ranked among Best Green Outsourcers of 2007.

Profiled in Independent Research Firm Report on mid-tier Providers by Forrester Research, Inc.

• 2009 : Established GenShare, a joint venture with GE.

Expanded operations with new delivery centre in Chile.

• 2010 : Partnered Virgin Racing Formula One team for the 2010 season.^[54]
• 2011 : UST Forms Innovation Lab Partnership with CCH.^[55]
• 2012 : UST Acquires Andare.^[56]

UST partners with Kony, Vidyo, Apperian to build on its mobile strategy.^[57]

UST opens fourth US Domestic Sourcing Center Dallas Metro area, Texas.^[58]

UST starts operations in Mexico.^[59]

UST’s iDispatch earns the Vidyo Excellence Award for Customer Service^[60]

• 2014 : Became the principal sponsor of the Chennai Super Kings for three years.^[61]

Acquired Kanchi Technologies Pvt Ltd.^[20]

• 2016 : UST inaugurates the first ever campus of their own in Thiruvananthapuram on 9 December 2016.
• 2019 May : Sajan Pillai retires and Krishna Sudheendra replaces him as chief executive officer.^[62]
• 2022 Oct : Acquired Advantasure a BCBSM arm from MI, USA, which is a new brand made merging Tessellate, Visiant, IkaSystems and others.

Controversy

In early 2008, California arbitrators ruled that US Technology Resources, LLC must pay Stephen J. Ross US $7.5 million for his founding interest in the company. The company had disputed the extent of Ross's actual contributions. The arbitration award was then confirmed by the Los Angeles Superior Court and judgment entered in Ross' favor.^[63]

Notes and References

1. Web site: UST Global renamed as UST. Outlook. en.
2. Web site: Who We Are Digital is our DNA - UST . Digital Transformation Solutions Company UST . 12 July 2022.
3. Web site: Locations UST . UST Digital Transformation Solutions Company . 16 March 2022.
4. News: Kerala's IT firm CEO gets international acclaim. Business Standard. 11 July 2013.
5. Los Angeles Daily Journal. Breach of contract, capital contributions, final buy-out. 22 February 2008.
6. Web site: About UST-Global : Contact Us. UST-Global. 2013-07-27. https://web.archive.org/web/20130729150705/http://www.ust-global.com/en/index.php/contact-us. 2013-07-29. dead.
7. Web site: IT and tech firm UST Global raises $250M from Temasek at a valuation of over $1B. 2021-01-28. TechCrunch. en-US.
8. News: Vinson Kurian . Despite odds, digital is rarely where funding is cut, says Chief Digital Officer at UST . The Hindu Business Line . May 12, 2021.
9. News: UST Global to hire 3,000 engineers for its new $100 mn India campus. First Post. 11 Jul 2013. Uttara Choudhury.
10. Web site: 16 July 2020. UST Global launches cloud products to suit 'new normal'. 2021-01-22. businessline. en.
11. Web site: UST Global announces new cloud offerings as more IT operations, workloads shift to cloud - ET CIO. 2021-01-22. ETCIO. en.
12. Web site: Shimel. More from Alan. 2020-11-24. DevOps Unbound: Outsourcing DevOps, Oxymoron or Truth?. 2021-01-26. DevOps.com. en-US.
13. Web site: Dol. Quinten. THESE WORK FROM HOME TECHNOLOGY COMPANIES MADE THE REMOTE TRANSITION EASIER. HERE'S WHAT THEY LEARNED.. Builtin.
14. Web site: 2020-07-16. CyberProof Joins Microsoft Intelligent Security Association for Cyber Security Industry Leaders. 2021-01-25. AiThority. en-US.
15. Web site: 6 May 2020. CyberProof earns plaudits from Information Services Group. 2021-01-25. businessline. en.
16. Web site: 2018-06-28. Temasek invests $340m in UST Global. 2021-01-04. The Straits Times. en.
17. News: Scaria. Joe A.. UST Global acquires Andare. The Economic Times. 2021-01-06.
18. Web site: UST Global Buys Testhouse Consultores S.A.. 2021-01-06. www.socaltech.com.
19. Web site: UST Global Acquires Testhouse Consultores S.A. to Serve Spanish Clients. 2021-01-06. en-US.
20. News: UST Global acquires Milwaukee-based Kanchi Technologies | Bengaluru News - Times of India. The Times of India. 21 May 2014 .
21. Web site: 私のヨガ体験、変わったこと変わらなかったこと – ヨガってやっぱり気持ちいい！.
22. Web site: Ammachchi. Narayan. 2014-05-29. UST Global Acquires US Technology Firm Xpanxion. 2021-01-11. Nearshore Americas. en-US.
23. Web site: 2014-07-17. UST Global invests $2M in xTV to expand .TV networks. 2021-01-08. VentureBeat. en-US.
24. News: 2014-07-01. UST Global acquires Renaissance Solutions. Business Standard India. 2021-01-08.
25. Web site: infotech. 2015-04-30. UST Global to open delivery center in Coimbatore. 2021-01-11. InfotechLead. en-US.
26. Web site: 2017-09-13. IT services firm UST Global invests in digital healthcare platform MyDoc. 2021-01-14. VCCircle. en-US.
27. Web site: 2018-01-11. Israeli Startup Bisec Acquired By CyberProof, a UST Global Company. 2021-01-14. NoCamels. en-US.
28. Web site: Ammachchi. Narayan. 2018-02-27. UST Global Gobbles up American Tech Startup Pneuron. 2021-01-15. Nearshore Americas. en-US.
29. Web site: Best Data Integration Vendors, News & Reviews for Big Data, Applications, ETL and Hadoop. 2021-01-15. Best Data Integration Vendors, News & Reviews for Big Data, Applications, ETL and Hadoop. en-US.
30. Web site: 2018-09-26. Temasek-backed UST Global acquires chip design firm SeviTech Systems. 2021-01-15. VCCircle. en-US.
31. Web site: 2020-07-30. UST Global, One of the Fastest Growing IT and Technology Companies in the World. 2020-12-23. AiThority. en-US.
32. Web site: 2019-10-30. UST Global acquires SCM Accelerators to fuel SAP business. 2020-12-23. Voice&Data. en-US.
33. Web site: UST Global acquires EHR consultant Contineo Health: 3 notes. www.beckershospitalreview.com. 13 November 2019 . 2019-11-27.
34. Web site: 2019-11-23. UST Global invests in artificial intelligence start-up Cogniphi. 2020-12-23. The Financial Express. en-US.
35. Web site: 2019-12-04. CyberProof Announces Acquisition of Necsia Cybersecurity Division. 2020-12-29. AiThority. en-US.
36. Web site: Tucker. Charlotte. 2020-06-26. London-based Ksubaka lands €1.3 million for its in-store games, surveys and temperature check. 2021-01-15. EU-Startups. en-US.
37. News: Sangani. Priyanka. UST Global announces the launch of BlueConch Technologies. The Economic Times. 2021-01-15.
38. Web site: 2020-07-30. UST Global Invests in Smart Software Testing Solutions Inc. 2021-01-15. News Experts. en-US.
39. Web site: 2020-08-27. UST Global makes strategic investment in US-based Tastry. 2021-01-15. The Financial Express. en-US.
40. News: UST announces 'strategic investment' in Israeli health-tech start-up . The Hindu Business Line.
41. News: UST HealthProof to acquire Advantasure . Becker's Healthcare.
42. Web site: IT and tech firm UST Global raises $250M from Temasek at a valuation of over $1B. 2021-01-12. TechCrunch. en-US.
43. Web site: Williams. Shannon. UST Global expands presence with new Singapore office. 2021-01-28. cfotech.co.nz. en.
44. Web site: UST Global Is Opening a Chicago Office with Plans to Hire Hundreds. 2021-01-28. Built In Chicago. en.
45. News: UST Global & Cisco pact for Smart Campus. Deccan Herald. 31 August 2013.
46. News: Multinational IT Company UST Global Names Israel its Global Cybersecurity Center. Calcalist. March 4, 2018.
47. News: UST Global Acquired Israel-Based Cybersecurity Startup Bisec. Calcalist. January 9, 2018.
48. UST HealthProof acquires Advantasure .
49. News: 'India can be the services capital of the world'. Rediff.com. Jan 7, 2008.
50. News: US Technology to buy eBuilt. The Hindu Business Line. February 11, 2005.
51. News: US Technology acquires QA Labs. The Hindu Business Line. July 14, 2006. February 5, 2007. https://web.archive.org/web/20070930230122/http://www.thehindubusinessline.com/2006/07/14/stories/2006071402570400.htm. September 30, 2007. dead. mdy-all.
52. News: Measures to create more IT jobs. https://web.archive.org/web/20071013143336/http://hindu.com/2006/05/20/stories/2006052007420400.htm. dead. October 13, 2007. The Hindu. May 20, 2006.
53. News: UST Global parks $130 m in Technopark, eyes South's tier-2 cities. The Financial Express. Oct 23, 2007.
54. News: UST Global to partner Virgin Racing for F1. The Economic Times. Feb 19, 2010.
55. Web site: UST Global Forms Innovation Lab Partnership with CCH . 2011-09-30 . https://web.archive.org/web/20120415122332/http://www.ust-global.com/newsroom/pressrelease18Aug2011.aspx . 2012-04-15 . dead .
56. Web site: UST Global Acquires Andare;Acquisition to Result in a Suite of Mobile Products Based on Andare's Award-Winning iDispatch Platform. dead. https://web.archive.org/web/20120515180841/http://www.ust-global.com/newsroom/pressrelease16Mar2012.aspx. 2012-05-15. 2012-05-18.
57. Web site: UST Global Alliance and Partnerships - Kony, Vidyo, Andare, Apperian . 2012-09-24 . https://web.archive.org/web/20120923120056/http://www.ust-global.com/about-UST/alliances-and-partnerships.aspx . 2012-09-23 . dead .
58. Web site: UST.
59. Web site: Vicente Fox visits headquarters of Aliso Viejo company . 2012-09-24 . https://web.archive.org/web/20121018042149/http://www.ust-global.com/newsroom/InTheNews19July2012.aspx . 2012-10-18 . dead .
60. Web site: Vidyo APIs and Partners Open New Markets by Enabling Business Process Applications with VidyoConferencing. 27 September 2012. Vidyo.
61. News: UST Global signs three-year sponsorship deal with CSK. 9 October 2014. Business Standard.
62. News: Ayan . Pramanik . UST Global elevates Krishna Sudheendra as CEO . . May 22, 2019.
63. Web site: Holland & Knight Secures $7.5 Million Award in Arbitration Over Interest in IT Outsourcing Company | News | Holland & Knight. www.hklaw.com.