Quess Corp to acquire a majority stake in Tata Business Support Services
Mumbai, 20 th November,2017: Quess Corp Limited (“Quess”), India’s leading integrated business services provider, announced today that it has signed a definitive agreement withTata Sons and Tata Capital to acquire a 51% stake in Tata Business Support Services (“TBSS”). Tata Sons will hold the remaining 49%. The transaction is expected to close in the next few weeks, subject to the fulfilment of customary closing conditions. 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.
Tata Business Support Services is among India’s premier Customer Experience (CX) management companies, with over ten years of sectoral expertise. The company serves diverse third-party clients in the BFSI, Auto and Manufacturing, Telecom& Media, Retail and in emerging industries, in India and abroad, with an employee strength of ~27,000 employees, handling ~500 million customer transactions every year. Headquartered in Hyderabad, the company has a Unique “One India” model, comprising 27 delivery centres.
Mr. Ajit Isaac, Chairman and Managing Director of Quess Corp, said, “We are excited about our partnership with the Tata Group. This investment marks a significant milestone for Quess in its journey to build a world class business services platform. We are confident that TBSS’ digital capabilities and roster of marquee clients will help us further grow this platform. CX has been a key focus area for us and will continue to see further investments from our side. This acquisition is in line with our investment philosophy of backing great management teams and creating superior long-term value for our shareholders.”
Mr. Praveen Kadle, Chairman of TBSS and Managing Director of Tata Capital, said, “The Tata group has nurtured TBSS over the last ten years over which time, it has grown to become a significant CX solution provider in the Indian business process outsourcing industry. The addition of Quess will further expand the company and let it continue to grow from strength to strength.”
Mr. Srinivas Koppolu, Chief Executive Officer, and his team, will continue to lead the Company. Commenting on the transaction, Mr. Koppolu said, “We are excited to be part of this journey. With the additional support of Quess, we are confident that we can expand into newer markets, acquire the latest digital competencies and provide stronger career opportunities to our employees, all the while offering better value to our customers and stake
Notes for the editor:
Quess Corp Limited
Quess, India’s leading integrated business services provider, was established in 2007. Headquartered in Bengaluru, the company has a pan-India presence with 65 offices across 34 cities along with overseas footprint in North America, the Middle East and South-East Asia. It serves over 1700+ customers across 4 segments namely, Global Technology Solutions, People and Services, Integrated Facility Management and Industrials. Quess has over 2,12,500 employees (including recent acquisitions) and market cap of over INR 11,551 Crores as on September 30,2017.
Tata Business Support Services (TBSS)
TBSS is a premier Customer Experience (CX) management company providing customer life cycle management and business process services with an annual revenue of approximately Rs. 700 Crores. Today TBSS serves 130+ marquee clients which includes Top 3/5 Telecom Clients, Top 7/10 Private Banks, & Top 3/5 Life Insurers. The company’s ~27000 employees manage ~500 million customer transactions annually from 27 delivery locations and 400 additional field centres. TBSS focuses and delivers business outcomes such as growing client revenues, enhancing CX, enabling efficiency through digital transformation, process re- engineering and people skills. TBSS is positioned in the Leaders Quadrant in Nelson Hall NEAT Report for CMS in Telecom / Cable / Satellite (Mar 15), Mortgage and Loan Business Process.