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.