HGS announces acquisition plans
Digital-led CX transformation provider and Outsource Accelerator (OA) Source Partner Hinduja Global Solutions (HGS) recently announced two of its acquisition plans that are set to aid the firm’s transformation journey.
First, HGS has entered into a definitive agreement to acquire a 100% stake in financial planning and analytics service provider TekLink International, Inc. In a press release, the outsourcing giant said that this would strengthen its digital solutions business by adding enhanced expertise in building data platforms, analytics, and financial planning.
Moreover, TekLink will add complementary digital workforce bench strength, with 275 seasoned technology and implementation professionals joining HGS as part of the transaction.
At the same time, HGS signed a non-binding Letter of Intent (LoI) to acquire uKnowva, a digital Human Resources Management System (HRMS) product business.
This acquisition is expected to create technology synergies with HGS’ existing HRO (Human Resource Outsourcing) or Payroll and F&A (finance and accounting) business, which supports several hundred clients with mainly HR operations-related activities in India and the Middle East today.
Commenting on these plans, HGS Group CEO Partha DeSarkar said that the company “has been investing significantly in developing technology-led capabilities to reimagine the CX journey for our clients in an increasingly digital-first world.”
“The synergies [of TekLink and uKnowva] will help us strengthen our existing digital portfolio substantially, expand in new rapidly growing segments, co-create solutions, and cross-sell to clients,” DeSarkar added.
HGS’ acquisition ofTeklink is set for a consideration of US$ 58.8 million, while financial details on their deal with uKnowva are still subject to necessary diligence and approvals.
HGS is a global digital-led, people-driven customer experience (CX) services provider headquartered in Bangalore, India. It is currently subscribed to the OA Source Partner Program, a powerful tool that helps Business Process Outsourcing (BPO) firms with marketing, sales, and business intelligence. The program also co-promotes its partner BPOs to OA’s web traffic and inbound leads and assists them in generating sales.
