M&A
Hinduja Global to acquire Australia's BPM co Diversify for over $28-M
Publicly listed, Bengaluru-based Hinduja Global Solutions Ltd (HGS) is to acquire a 100% equity stake in Brisbane, Australia-headquartered Diversify Offshore Staffing Solutions. The deal involves a cash component of AUD 40 million (about USD 28 million) at closing and an earn-out consideration based on business and financial performance in the 12 month period ending on June 30, 2022. For the year ending June 2022, Diversify is expected to report revenues of around AUD 26.5 million (about USD 18.54 million), compared to AUD 20.68 M in the previous year. With over 1,100 employees, Diversify provides value-added BPM (business process management) services, with delivery operations in the Philippines. It has over 50 clients, 70% of whom are in the Australia & ANZ region and the others in the US. The company has reported a CAGR of 39% over the last 5 years.
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