AgenciesBengaluru: Hinduja Global Solutions said it would sell its customer relationship management (CRM) business to Altruist Technologies, a business process management firm.
"This is an all-cash transaction of Rs 40 crore, subject to adjustments. In addition, the proceeds from working capital will accrue to HGS. The transaction, subject to approvals, is expected to close by January 31 next year," said the company in a press release.
Post this transaction, HGS would transfer client contracts and assets at 10 delivery centers across Bangalore, Mysore, Hyderabad, Pune, Mumbai, Noida, Indore and Raipur, said the company.
This transaction will also see more than 7300 employees of HGS moving to Altruist.
HGS said it would "continue to focus on strengthening its international business that supports global clients out of India, HGS Business Services (comprising HRO, Compliance, Payroll and F&A Services) and HGS Interactive businesses".
"This is an all-cash transaction of Rs 40 crore, subject to adjustments. In addition, the proceeds from working capital will accrue to HGS. The transaction, subject to approvals, is expected to close by January 31 next year," said the company in a press release.
The Hinduja Group's BPM firm's domestic CRM business comprises primarily voice services and some non-voice processes. For the first half of this fiscal, revenue from HGS Domestic CRM business stood at nearly Rs. 145 crore.
Post this transaction, HGS would transfer client contracts and assets at 10 delivery centers across Bangalore, Mysore, Hyderabad, Pune, Mumbai, Noida, Indore and Raipur, said the company.
This transaction will also see more than 7300 employees of HGS moving to Altruist.
HGS said it would "continue to focus on strengthening its international business that supports global clients out of India, HGS Business Services (comprising HRO, Compliance, Payroll and F&A Services) and HGS Interactive businesses".
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