Hinduja Global Solutions (HGS) were in the news earlier in this week with their new logo and expansion strategies. The company has decided to bring all its sub units across the globe under one global identity as part of the expansion of the company.
Hinduja Global Solutions has acquired a Canadian firm, On-Line Support Inc. (OLS) for $78.16 million (Rs. 343 Crores). The total work force of Hinduja Global Solutions will increase to 21,000 employees. According to the sources HGS is also planning for some other acquisitions in the long run. The total revenue of the company is expected to be $300 million after this acquisition.
OLS is a contact centre provider, which has a huge client base and skilled employees with great experience in customer service and technical support. The Canadian company is a well established contact center with technical support, sales and customer care support in media and telecom sector.
Report also says that OLS is a high potential company with a very satisfactory turn over of 63.4 million US dollars, which is about Rs 294 crore in the Indian market. This is not the first acquisition made by the company. Earlier HGS went into acquiring a UK based customer support firm.
The recent news about the company and declaration of the expansion strategies such as acquisition has increased the share value of the firm in the market. The shares of Hinduja Global Solutions are trading well in the share market at around Rs. 350, when the market closed previous day.
The top executives of Hinduja Global Solutions informed that even though the company has acquired On-Line Support Inc. (OLS), there will be no change in the CEO of OLS. They also have decided not to make any changes in the current work force of other human resource processes.
They believe that the strength of the company is the skilled and experienced work force they have. Hinduja Global Solutions is well equipped to serve with customized IT solutions to different clients.
Hinduja Global Solutions [stock quote] believes that their fresh identity and brand will motivate their employee base spread all over the world and it could also help in enhancing the relationship with global customers.
As reported earlier, the company is planning to get listed with Bombay stock exchange and national stock exchange under the new brand name of ‘HGS’.