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Quess Corp acquires residual 30% stake in Conneqt
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Quess Corp acquires balance 30% stake in Conneqt
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Quess Corp, a business services platform, said it will acquire the residual 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 sizeable base to expand its CLM and BPM capabilities with emphasis on digital services and international expansion, said Quess in a statement.
Quess Corp to acquire remaining 30% stake in Conneqt from Tata Sons for ₹208 crore
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Quess Corp CFO speaks on Conneqt deal, business and jobs in Covid s wake
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Last Updated: Apr 16, 2021, 03:59 PM IST
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Synopsis The sector where hiring has come back strongly are e-commerce, BFSI, telecom and manufacturing. There are certain sectors such as facility management business and security services that depend largely on offices reopening. So they are still a bit subdued.
ET Now
Quess Corp, talks about the Conneqt acquisition deal and about the overall India business & jobs scene in the wake of the second wave. Edited excerpts from his interview with ET Now:
Shed some light on the details of Quess Corp s deal with Conneqt