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Hinduja Global Solutions Ltd (HGS) has announced that its subsidiary, HGS International Mauritius, has entered into a definitive agreement to acquire 100 per cent equity stake in Diversify Offshore Staffing Solutions Pty Ltd (Diversify), Australia. The transaction is expected to close within the next few days. With the acquisition of Diversify, HGS will open up New Zealand (ANZ) as a new market, with the addition of clients from that region. It will also supplement its portfolio in the US. While most of its current offshore footprint is in the Philippines, this will open up the gates for ANZ offshoring to HGS’ Indian operations. It bolsters HGS’ portfolio of back-office and non-voice businesses in domains like Digital Marketing, Finance & Accounts, IT services, etc. Combining these two organizations brings in synergies to improve the profitability of the operations. The complementarity of time zones between Australia and North America is expected to improve the asset utilization for HGS, said the company. Partha Desarkar, Executive Director and Group CEO, HGS, said, “We are very excited to welcome the 1,100+ employees of Diversify into the HGS family. We expect robust business synergies to be generated by this acquisition. ANZ is a very attractive market for high-growth, value-added and margin-accretive businesses.” As a result of this partnership, a large number of experienced domain experts in verticals such as professional services, retail, and telecommunications will soon become a part of HGS. This also expands the footprint in the Philippines with four new delivery centers, he added. Diversify is an Australian enterprise, providing value-added BPM services, with delivery operations in the Philippines. It provides differentiated consumer engagement solutions to its impressive roster of over 50 clients, 70 per cent of whom are in the Australia & ANZ region and the others in the US. It has had a CAGR of 39 per cent over the last 5 years despite the recent pandemic. “The partnership with a global organization like HGS provides the resources to us and paves the way to drive significantly higher levels of growth,” said Angela Vidler, Managing Director of Diversify.
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