– Acquisition aimed at further enhancing market leadership position in compliance solutions segment
Mumbai, February 7: Aparajitha Corporate Services Private Limited, one of India’s largest regulatory and social compliance service providers, is set to acquire the ‘labour law’ compliance business from Allsec Technologies Ltd (“Allsec”), the country’s leading payroll services entity.
The deal is valued at an Enterprise Value of Rs 27 crore, on a cash and debt-free basis, subject to closing adjustments and fulfilment of conditions set out in the transaction document. The acquisition process is expected to be closed by March 31 this year.
Explaining the strategic importance of the acquisition for Aparajitha, Managing Director Nagaraj Krishnan said, “This transaction will strengthen our comprehensive regulatory and social compliance solutions, best-in-class services combined with digital tools, and consolidate our position as the leader in compliance services.”
“We welcome all the team members and intend to provide them with a large platform for professional growth while operating in a domain expertise-led and tech-enabled work environment,” he added.
Naozer Dalal, CEO, Allsec Technologies Ltd, said, “The transaction will lead to simplification of the operating structure and enable sharper management focus on our higher margin growth businesses – Customer Experience Management (CXM) & Employee Experience Management (EXM), thus optimizing future business results of the company. We look forward to partnering with Aparajitha, to provide a seamless transition experience to our customers, many of whom we will continue to associate with for our other services”.
For Allsec, the transaction is part of the broader company strategy to exit from labour Law compliance business, which is not an immediate extension to the wider EXM business.