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Estimated to buy 208 208-crore stake in Konnect

Business services platform Quays Corp said it would hold a residual 30% stake in Tata SonsR7; Concat Business Solutions. 208 crores.

In November 207 Quess acquired 51% Conneqt and increased its stake in Conneqt in May 2019 to 51% to 70% through infusion of primary capital, which was later used to acquire Allsec Technologies, CLM and HRO service provider Was done

A joint statement said that the combined strengths of Conneqt and Allsec will provide Quess with a base to expand its CLM and BPM capabilities with an emphasis on digital services and international expansion.

“The integration of our holdings in CONCAT will further accelerate CONCATR7;s transition to non-voice services,” said Quaz Corp, the group’s CEO and MD. ‘

Conneqt is a customer life management (CLM) and BPM services firm that operates 2 distribution and employs over 29,000 people.

With this transaction, Konkat will become a wholly owned subsidiary of Quess.

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