Hinduja Global Solutions announces two M&A deals for expanding its digital capabilities

8 Dec 2022 , 09:42 AM

Hinduja Global Solutions (HGS) announced two M&A developments to support its transformation journey as HGS 2.0. 1. HGS has entered into a definitive agreement to acquire a 100% stake in TekLink International, Inc., for a consideration of US$ 58.8 million, subject to earnouts and other customary and agreed adjustments. The transaction with the analytics service provider is expected to close in the next two months. 2. HGS has signed a non-binding Letter of Intent (LoI) to acquire uKnowva, a digital Human Resources Management System (HRMS) product business, from Convergence IT Services Ltd, subject to necessary diligence and approvals. uKnowva is a Cloud-based SaaS platform that is easy to use, cost effective and leverages intelligent software to deliver human capital management, automation, and collaboration for midsize and growing companies. TekLink International Inc., is a full-service financial planning and analytics service provider, including design, implementation, and application management services. TekLink has built technical and functional expertise across multiple industries, including consumer products, retail, pharmaceuticals, manufacturing & distribution, utilities, and high tech. The company supports over 60 clients, including one of the worlds leading food manufacturers, an American multinational confectionery, a global beverages giant, etc. TekLink is headquartered in Warrenville, IL, US, with presence in Europe and delivery centers in Hyderabad and Indore in India. The company has strong credentials in the industry, with established partnerships with Microsoft, SAP, Anaplan, etc. TekLink has recently been named a 2022 Gartner? Peer Insights? Customers Choice for Data & Analytics Service Providers. The acquisition will strengthen HGS 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. uKnowva business has 75+ employees in India supporting over 300,000 users across 80+ clients. 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.Powered by Capital Market – Live News