Quess Corp to acquire remaining 30% stake in Conneqt from Tata Sons for ₹208 crore
The Hindu
Quess had acquired 51% of Conneqt in November 2017 and further increased its stake in Conneqt from 51% to 70% in May 2019 via infusion of primary capital.
Quess Corp, a business services platform, on Friday said it will acquire the remaining 30% equity stake in Conneqt Business Solutions from Tata Sons for ₹208 crore. Quess had acquired 51% of Conneqt in November 2017 and further increased its stake in Conneqt from 51% to 70% in May 2019 via infusion of primary capital, which was later used to fund its acquisition of Allsec Technologies, a CLM and HRO services provider. The combined strength of Conneqt and Allsec would provide Quess a sizable base to expand its CLM and BPM capabilities with emphasis on digital services and international expansion, Quess said in a statement.
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