M&A

M&A

BLS International acquires Turkey-based visa services provider iData for Rs.720-Cr

Rediff   iData Danismanlik Ve Hizmet Dis Ticaret Anonim Sirketi  

New Delhi-headquartered visa services provider BLS International Services, through BLS International FZE and BLS International Holding Anonim Sirketi, has acquired 100% stake in Istanbul, Turkey-based iData Danismanlik Ve Hizmet Dis Ticaret Anonim Sirketi for about INR 720 crore.iData provides visa processing and consular services to various governments, through its 37-plus visa application centres (VAC) in 15-plus countries, serving diplomatic missions of Germany, Italy, and Czech Republic. iDATA posted revenues of about INR 246 crore and an EBITDA of INR 144 crore in CY2023.iData's existing agreements and offices will be aligned into the BLS's network in 66 countries across the globe, enabling BLS to service more client governments in Europe where iDATA is a dominant player.Founded in 2005, BLS International Services is the second largest international visa a consular services provider and works with over 46 client governments. BLS claims to have processed over 360 million applications to date globally.