Hinduja Global Solutions Limited (HGS), on Thursday, announced entering into a definitive agreement to acquire a 100 per cent stake in TekLink International Inc, a full-service financial planning and analytics service provider, for a consideration of $58.8 million.
Additionally, HGS has also 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.
Both investments are in line with the company’s aim to expand its digital capabilities. The deal with TekLink International is expected to close in the next two months, it said.
Partha DeSarkar, Group CEO, HGS said, “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 and financial planning and HR technology segments, respectively, are a good strategic fit for us.”
DeSarkar added, “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.”
Stronger workforce
TekLink International Inc is a full-service financial planning and analytics service provider, including design, implementation, and application management services.
HGS said the acquisition will strengthen its digital solutions business and add complementary digital workforce bench strength with 275 seasoned technology and implementation professionals joining the company.
“We are excited to become part of the HGS family to complement their already established digital customer engagement, digital experience, intelligent automation, and cloud and security portfolio with our world-class data platform and analytics solutions and services,” said Pankaj Gupta, Founder and CEO, TekLink.