HGS announces two M&A deals for widening its digital capabilities By CIOTechOutlook Team

HGS announces two M&A deals for widening its digital capabilities

CIOTechOutlook Team | Thursday, 08 December 2022, 09:05 IST

Hinduja Global Solutions Limited (HGS) keeps up-to-date with its continuing transformation into a digital-led, human-driven customer experience (CX) services provider by making major investments in enhancing its digital capabilities.

The business has branded two M&A developments as HGS 2.0 to support its transformational journey.

The first involves paying $58.8 million for a 100% share in TekLink International, Inc., subject to earnouts and other modifications. Within the following two months, the transaction with the analytics service provider is anticipated to finalise.

The second step is the signing of a non-binding Letter of Intent to purchase Convergence IT Services's digital HRMS product company, uknowva. Acquisition is contingent upon required permissions and due diligence. A cloud-based SaaS platform called uknowva provides collaboration, automation, and human resource management for midsize and expanding businesses.

"HGS has made major investments in creating technology-led capabilities to rethink the CX journey for our clients in a world that is becoming more and more digital first. We have an excellent strategic match with TekLink and uKnowva thanks to their disruptive solutions in the analytics & financial planning and HR technology categories, respectively. The synergies would enable us to significantly expand into new, fast expanding market categories, co-create solutions, and cross-sell to customers, said Partha DeSarkar, Group CEO of HGS. He continued, "We are working to create a complete ecosystem of cutting-edge technologies that support every touchpoint in the consumer journey.

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.