Quess Corp Ltd. said it's purchase of a majority stake in Allsec Technologies Ltd. would help the business services provider boost its user engagement.
“It has been our goal to increase the revenue share of the customer lifescycle management platform because it's a higher margin business,” Ajit Isaac, chairman and managing director at Quess Corp, told BloombergQuint during an interview. “Allsec proved to be a ‘good target' in that context.
Quess Corp's subsidiary unit Conneqt Business Solutions last week signed an agreement to acquire a 61.35 percent stake in Allsec Technologies for Rs 271 crore.
Quess, which is looking to pay for Allsec Technologies through internal accruals, expects that the deal would increase the combined company's margin by 30-40 basis points, Isaac said.
After the completion of the deal, Quess would add two service lines in the customer lifescycle management and the human resource operations segment that would help improve the company's cash conversions, he said. “We are quite bullish about how much can be done with the [Allsec's] product.”
Watch the full interview here:
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