Business services platform Quays Corp said it would hold a residual 30% equity stake in Tata SonsR17; Concat Business Solutions. 208 crores.
In November 2017 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 larger 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 CONCATR17;s transition to non-voice services,” said Quaz Corp, the group’s CEO and MD. ‘
Conneqt is a customer life cycle management (CLM) and BPM services firm that operates 21 distribution centers and employs over 29,000 people.
With this transaction, Konkat will become a wholly owned subsidiary of Quess.
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