Le Lézard
Classified in: Science and technology, Business
Subject: TNM

HGS continues to expand its digital focus, announces acquisition


BENGALURU, India, Dec. 8, 2022 /PRNewswire/ -- In line with its ongoing evolution into a digital-led, people-driven customer experience (CX) services provider, Hinduja Global Solutions Limited (HGS) (Listed on NSE & BSE, India), continues to make significant investments to expand its digital capabilities.

The company today announced two M&A developments to support its transformation journey as HGS 2.0.

  1. HGS has entered into a definitive agreement to acquire a 100% stake in TekLink International, Inc., for a consideration of US$ 58.8 million, subject to earnouts and other customary and agreed adjustments. The transaction with the analytics service provider is expected to close in the next two months.
  2. HGS has signed a non-binding Letter of Intent (LoI) to acquire uKnowva, a digital Human Resources Management System (HRMS) product business, from Convergence IT Services Ltd, subject to necessary diligence and approvals. uKnowva is a Cloud-based SaaS platform that is easy to use, cost effective and leverages intelligent software to deliver human capital management, automation, and collaboration for midsize and growing companies.

"HGS has been investing significantly in developing technology-led capabilities to reimagine the CX journey for our clients in an increasingly digital first world. TekLink and uKnowva with their transformative solutions in the analytics & financial planning and HR technology segments, respectively, are a good strategic fit for us. The synergies will help us strengthen our existing digital portfolio substantially, expand in new rapidly growing segments, co-create solutions, and cross-sell to clients," said Partha DeSarkar, Group CEO, HGS. "We continue to build an end-to-end ecosystem of innovative solutions that support every touchpoint in the consumer journey."

TekLink International Inc., is a full-service financial planning and analytics service provider, including design, implementation, and application management services. TekLink has built technical and functional expertise across multiple industries, including consumer products, retail, pharmaceuticals, manufacturing & distribution, utilities, and high tech. The company supports over 60 clients, including one of the world's leading food manufacturers, an American multinational confectionery, a global beverages giant, etc.  TekLink is headquartered in Warrenville, IL, US, with presence in Europe and delivery centers in Hyderabad and Indore in India. The company has strong credentials in the industry, with established partnerships with Microsoft, SAP, Anaplan, etc. TekLink has recently been named a 2022 Gartner® Peer Insightstm Customers' Choice for Data & Analytics Service Providers.

The acquisition will strengthen HGS' digital solutions business by adding enhanced expertise in building data platforms, analytics, and financial planning. It will also add complementary digital workforce bench strength, with 275 seasoned technology and implementation professionals joining HGS as part of the transaction. HGS' digital business currently employs over 750 core technology and digital marketing experts, primarily across the US and India, who are transforming customer experiences (CX) for leading brands.

"We are excited to become part of the HGS family to complement their already established digital customer engagement, digital experience, intelligent automation, and cloud & security portfolio with our world-class data platform and analytics solutions and services," said Pankaj Gupta, Founder and CEO, TekLink. "Together, our mutual clients will benefit from best-in-class, end-to-end digital transformation."

uKnowva business has 75+ employees in India supporting over 300,000 users across 80+ clients. The acquisition of uKnowva, when approved and completed, will create technology synergies with HGS' existing HRO/ Payroll and F&A business, that supports several hundred clients with mainly HR operations related activities in India and the Middle East today. uKnowva was recently recognized as the 'Entrepreneurial Company of the Year in AI for HR Tech' by Frost and Sullivan.

About Hinduja Global Solutions (HGS): 
A global leader in optimizing the customer experience lifecycle, digital transformation, and business process management, HGS is helping its clients become more competitive every day. HGS combines automation, analytics, and artificial intelligence with deep domain expertise focusing on digital customer experiences, back-office processing, contact centers, and HRO solutions. Part of the multi-billion-dollar conglomerate Hinduja Group, HGS takes a "globally local" approach. HGS has 23,146 employees across 33 delivery centers in seven countries, making a difference to some of the world's leading brands across verticals. For the year ended March 31, 2022, HGS had revenues of Rs. 57,959 million (US$ 779 million).  

Visit https://hgs.cx to learn how HGS transforms customer experiences and builds businesses for the future.

Media contact: 
Thanuja B M
Tel: +91 80 46431000/ +91 8971145454 
Email: thanuja.megharaj@teamhgs.com

 

SOURCE HGS


These press releases may also interest you

at 14:22
Employers' Forum of Indiana recently announced the first major data update to its nationwide hospital price tool, Sage Transparencytm, a free, customizable dashboard that compares metrics of hospital and ASC quality, price, and cost across 4,000...

at 14:21
Samsung Electronics Co., Ltd. today unveiled the Galaxy S23 Ultra, Galaxy S23+, and Galaxy S23, marking a new era of Samsung Galaxy's ultimate premium phone experience. Samsung Galaxy's epic camera gives users more freedom to explore their...

at 14:21
Canada is establishing itself as a global supplier of choice for clean energy in a net-zero world ? with one of the world's most comprehensive and detailed climate plans, a wealth of natural resources and a skilled workforce. Governments worldwide...

at 14:20
The "Wound Care Biologics Market Report by Wound Type, by Product, by End User and by Region - Global Forecast to 2029" report has been added to  ResearchAndMarkets.com's offering. The wound care biologics market size is estimated to be USD 1.91...

at 14:20
Chapters Health System, one of the nation's premier...

at 14:14
Graybar, a leading distributor of electrical, communications and data networking products and provider of supply chain management and logistics services, has been named a 2023 Top Workplaces USA award winner by Energage. This marks the third...



News published on 8 december 2022 at 09:02 and distributed by: