Quess Corp shares up 5 pc on TBSS stake buy deal

Cornelia Mascio
Novembre 21, 2017

The Board of Directors of Quess Corp Limited considered and approved the acquisition of 51% equity stake in Tata Business Support Services Limited upto Rs 153 crores on November 20, 2017. Tata Sons will continue to hold the remaining 49% of TBSS post-acquisition by Quess Corp.

Shortly after closing, following the conclusion of the appropriate regulatory formalities, the company is also expected to rebrand itself to showcase its new corporate identity.

Hyderabad-headquartered TBSS is a CX management company, with over 10 years of sectoral expertise.

Headquartered in Hyderabad TBSS serves diverse third-party clients such as BFSI, auto & manufacturing, telecom & media, retail and in emerging industries, in India and overseas, with an employees strength of around 27,000 employees.

It employs about 27,000 personnel and has 27 delivery centres. It provides a significant cross-selling opportunity for Quess across its Technology, People and Services business. We are confident that TBSS' digital capabilities and roster of marquee clients will help us further grow this platform. "This investment marks a significant milestone for Quess in its journey to build a world class business services platform", Quess Corp Chairman and MD Ajit Isaac said.

"We are excited about our partnership with the Tata Group. The addition of Quess will further expand the company and let it continue to grow from strength to strength".

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