In line with its ongoing evolution into a digital-led, people-driven customer experience (CX) services provider, Hinduja Global Solutions Limited (HGS) continues to make significant investments in expanding its digital capabilities.
The company has announced two M&A developments to support its transformation journey as HGS 2.0.
The first is the acquisition of a 100% stake in TekLink International, Inc. for a consideration of $58.8 million, subject to earnouts and other adjustments. The transaction with the analytics service provider is expected to close in the next two months.
The second development is the signing of a non-binding Letter of Intent to acquire uknowva, a digital HRMS product business, from Convergence IT Services. The acquisition is subject to necessary diligence and approvals. uknowva is a cloud-based SaaS platform that offers 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,” he added.
TekLink International Inc., is a full-service financial planning and analytics service provider, including design, implementation, and application management services.
HGS stated that the acquisition will strengthen its 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,” he added.
HGS further stated that 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.
