Quess Corp To Acquire Majority Stake In Tata Business Support Services For Rs 153 Crore
Quess Corp Ltd. will buy a majority stake in Tata Business Support Services, a wholly owned subsidiary of Tata Sons for up to Rs 153 crore in an all-cash deal.
The Bangalore-based integrated business provider signed a definitive agreement with Tata Sons and Tata Capital to acquire 51 percent stake in Tata Business Support Services, Tata Sons said in a media statement today. Tata Sons will hold the remaining 49 percent stake. The deal is expected to close in the next few weeks, the statement added.
“We are confident that TBSS’ digital capabilities and a roster of marquee clients will help us further grow this platform,” Ajit Isaac, chairman and managing director of Quess Corp said in the statement.
Upon closure of the deal, TBSS, which provides customer experience management and business process outsourcing services, will rebrand itself to showcase its new corporate identity. TBSS has a revenue of about Rs 700 crore and more than 130 clients including in telecom, private banks and life insurance.
Watch the full interview with Ajit Isaac, chairman and managing director of Quess Corp.