BLS International acquires iDATA for $87Mn, expands European presence
NEW DELHI, INDIA — BLS International Services Limited, a global tech-enabled service partner for governments and citizens, has announced the successful acquisition of a 100% stake in iDATA, a visa service provider based in Turkey.
The deal, valued at approximately €80 million (US$87 million), marks a strategic expansion for BLS International into the European market. It was executed through BLS International FZE and its wholly-owned subsidiary, BLS International Holding Anonim Şirketi.
Benefits and market impact of acquiring iDATA
The acquisition is expected to improve BLS International’s position in the global visa and consular services market by integrating iDATA’s existing agreements and offices into its network, which spans 66 countries.
“We are delighted to announce the completion of the iDATA acquisition, a pivotal point in BLS’ growth journey and a testament to our strategic vision of leading global visa and consular services. iDATA, with 15 years of specialized experience, has built strong relationships with client governments,” said Shikhar Aggarwal, Joint Managing Director of BLS International said.
“This acquisition enables BLS to expand relationships in Europe, enhance visibility, and consolidate market share.”
The transaction is anticipated to be immediately accretive to BLS International’s earnings per share (EPS), suggesting positive financial implications for the company. Moreover, the combined synergies are expected to improve profit margins.
About BLS International and iDATA
BLS International, established in 2005, has built a strong reputation in the industry over its 19-year history. The company collaborates with over 46 client governments and has processed more than 360 million applications to date.
iDATA, on the other hand, has established itself as a prominent player in the visa service industry over the past 15 years. With 37 Visa Application Centers (VACs) spread across more than 15 countries, iDATA primarily serves the governments of Germany, Italy, and the Czech Republic. The company reported 2023 revenues of about €27.3 million (US$30 million) and an EBITDA of roughly €16 million (US$17 million).
