Business process management company WNS on Friday announced two acquisitions on which it will be cumulatively spending over $156 million (about ₹1,290 crore).
Both the companies -- The Smart Cube (TSC), which is into platform-driven research and analytics, and Optibuy, which provides procurement platform consulting and implementation solutions -- are complementary to WNS' existing offerings, as per a statement.
TSC, a British company, has been acquired for $125 million, while the overall consideration for Optibuy is Euro 30 million (over $31 million), it added.
The NYSE-listed WNS, which employs a bulk of its workforce in India, said it has funded the up-front payments for these acquisitions with a combination of cash on hand and 83 million pounds of long-term debt.
The TSC buy is expected to add approximately $9 million to WNS' net revenue in FY23, while Optibuy will give $2 million, the statement said. "Both of these companies possess unique, digitally-led/human intelligence capabilities which are complementary to WNS' existing procurement and analytics offerings, and are also complementary with each other," WNS' chief executive Keshav Murugesh said.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.