IT Firm Datamatics acquires 75% stake in RJ Globus Solutions
Mumbai-based IT company Datamatics Global Services Ltd has acquired a 75% stake in Manila-based BPO firm RJ Globus Solutions Inc. for all in cash deal of $1.6 million (Rs 10.4 crore), the stock-exchange filing stated.
According to the filing, the remaining 25% stake will be acquired over the next two years, if RJ Globus meets certain criteria in its financial performance.
The company has picked up the stake in RJ Globus through its step-down subsidiary, Datamatics Philippines. As part of the deal, the capital will also go towards payment of certain liabilities.
The acquisition will further strengthen Datamatics’ BPO offerings to meet the growing demands of customers and increase its market presence through an expanded global delivery centre, the company said.
RJ Globus Solutions will become a step-down subsidiary of the company once the acquisition is completed.
Incorporated in 2012, RJ Globus offers customer service, back office solutions, and analytics to companies in the banking and financial services space, besides catering to healthcare, aviation, telecom and e-commerce segments across the US, the UK, China and Australia. It employs 300 staff across its offices.
Datamatics vice-chairman and CEO Rahul Kanodia said the acquisition will allow the company to scale up its presence in the Philippines and enhance the capabilities in the BPO business through voice-based support. It offers consulting, information technology, data management, and business process management services, globally, through its eight delivery centres.