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Tata Sons exits BPM biz, offloads Conneqt stake Top Searches Tata Sons exits BPM biz, offloads Conneqt stake Reeba Zachariah / TNN / Updated: Apr 17, 2021, 10:37 IST FacebookTwitterLinkedinEMail MUMBAI: Tata Sons has sold its remaining 30% in the business process management (BPM) unit Conneqt to Quess Corp majority owned by Indian-Canadian businessman Prem Watsa for Rs 208 crore. With this, Tata Sons, the holding company of the Tata Group, has exited the BPM business it founded in 2004. The exit is a result of it pruning its non-strategic portfolio. In November 2017, Tata Sons had sold 51% of Conneqt to Quess. Two years later, its stake in the Hyderabad-based company fell by 19% after it didn’t participate in an equity funding programme of Conneqt. On the other hand, Quess’s interest in Conneqt increased to 70% from 51%. ....
NEW DELHI: Business services provider Quess Corp on Friday said it will acquire the remaining 30 per cent equity stake in Conneqt Business Solutions Ltd from Tata Sons for Rs 208 crore. The administration and investment committee has approved the acquisition of 30 per cent equity shares in Conneqt Business Solutions Ltd in lieu of Rs 208 crore from Tata Sons Pvt Ltd, Quess Corp said in a regulatory filing. With this transaction, Conneqt will become a wholly-owned subsidiary of Quess, the company added. Quess had acquired 51 per cent of Conneqt in November 2017, and further increased its stake in Conneqt from 51 per cent to 70 per cent in May 2019, via infusion of primary capital, which was used to fund the acquisition of ....
Quess Corp acquires residual 30% stake in Conneqt for ₹208 crore April 16, 2021 Conneqt will now become a wholly-owned subsidiary of Quess Quess Corp, a Bengaluru-based business services provider, has acquired the residual 30 per cent stake in Conneqt Business Solutions Ltd for ₹208 crore, pursuant to a put option notice by Tata Sons. Following the transaction, Conneqt will become a wholly-owned subsidiary of Quess, the company said a press statement. Suraj Moraje, Group CEO and Managing Director of Quess Corp, said: “Conneqt has performed remarkably since we acquired it in 2017, with significant milestones achieved in terms of robust revenue CAGR, NPS improvement and reduction of top 10 customer exposure”. ....
Demand for tech talent from captives grew 22% in second half of FY21: Quess SECTIONS Last Updated: Apr 06, 2021, 05:32 PM IST Share Synopsis Banking and financial services, technology services and consulting, auto and engineering and have significantly contributed to the demand from the captive centres. Getty Images Demand for technology skills among captives or global development centres in India has grown 22% during the second half of this last financial year, said staffing and business solutions major Quess in a report. The staffing major said roles such as IT security, full stack developers witnessed 166% and 110% growth, respectively, in demand from captives, between October 2020 and March 2021. ....
Quess Corp separates Chairman and MD roles, appoints new CFO SECTIONS Share Synopsis Suraj Moraje, currently group CEO and executive director, will be elevated to group CEO and managing director from April 1. Ajit Isaac, currently executive chairman and MD, will continue in the role of executive chairman. Getty Images Business services provider and staffing provider Quess Corp has announced the separation of its chairman and MD roles, said a statement issued today. Suraj Moraje, currently group CEO and executive director, will be elevated to group CEO and managing director from April 1. Ajit Isaac, currently executive chairman and MD, will continue in the role of executive chairman. ....