Business services platform Quays Corp said it would hold a residual 30% equity stake in Tata Sons’ 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 CONCAT’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.