HGS acquires majority stake in Element Solutions
Adds digital transformational capabilities in the Buy-side segment to HGS' digital services business
CHICAGO, April 2, 2018 /CNW/ -- Hinduja Global Solutions Limited (HGS) (Listed on NSE & BSE, India), announced that its subsidiary Hinduja Global Solutions UK Limited has today entered into a definitive agreement to acquire 57 percent equity stake in Element Solutions LLC, USA, a digital consulting services company, for a consideration of US$ 5 million. The transaction is expected to close in the next 15 days.
Element Solutions provides high-end digital strategy and solutions in customer digital experience, data-driven marketing and cloud managed services areas. With over 160 successful digital engagements, the company supports more than 35 top Fortune 500 brands, primarily in the healthcare, manufacturing and retail industries.
The modern customer lifecycle has two broad areas: Buy-side – comprising of market and sell segments and the Own-side – comprising of support and serve segments. HGS has traditionally been focused on the Own-side but started to cater to the Buy-side in the last couple of years. The acquisition of Element will help HGS Interactive (HGSi), HGS' digital services division, to strengthen its Buy-side portfolio by adding new capabilities and expertise in customer digital experience and digital marketing. It will also bring together a complementary client base across sectors and add significant onshore presence for HGSi. Post acquisition, HGS will add over 75 employees comprising strategic thinkers, digital marketers, user-centric designers, software engineers and developers, of whom 33 are in the US and the rest in India.
"As part of our strategy to drive digital-led transformation for clients, HGS has been investing significantly in technology and solutions to reimagine customer experiences. The investment in Element Solutions expands on this strategy and helps position us as an end-to-end digital transformational leader who can impact the entire customer lifecycle for brands," said Partha DeSarkar, Chief Executive Officer, HGS. "I am pleased to welcome the talented team of Element to the HGS family and look forward to leveraging their expertise to drive higher value."
"The partnership with HGS will help us deliver better on our brand promise of 'Creating Digital Experiences that transform traditional businesses to digital innovators' at scale. We are excited about the opportunities ahead and are committed to working with our clients to drive impact," said Venkatesh Korla, Founder & CEO, Element Solutions.
An innovative, global digital agency, HGSi provides global brands an array of 360 degree digital solutions including digital marketing, social CRM and web/ mobile apps to several marquee clients in CPG, hospitality, BFSI and ecommerce sectors. The business has over 150 employees, most of whom are based in Mumbai. Analyst firm NelsonHall recently named HGS as a LEADER in its Digital Marketing Services NEAT report 2018.
About Hinduja Global Solutions (HGS):
A global leader in business process management (BPM) and optimizing the customer experience lifecycle, HGS is helping make its clients more competitive every day. HGS combines technology-powered services in automation, analytics and digital with domain expertise focusing on back office processing, contact centers and HRO solutions to deliver transformational impact to clients. Part of the multi-billion dollar conglomerate Hinduja Group, HGS takes a true "globally local" approach, with over 46,000 employees across 69 delivery centers in seven countries making a difference to some of the world's leading brands across nine key verticals. For the year ended 31st March 2017, HGS had revenues of US$ 555 million. HGS Interactive (HGSi), the digital business arm of HGS, is an innovative digital solutions company, providing global brands an array of services in the areas of Strategy & Consulting, Digital Marketing, DigitalCx and Social CRM. Pioneers in the Unified Customer Experience space, HGSi works on the three tenets of Technology, Innovation and Creativity, and provides its clients real-time customised solutions.
Log in to https://www.teamhgs.com/ to know how we can help make you more competitive.
About Element Solutions
A creative team of strategic thinkers, marketing experts, user-centric designers and software engineers with and elemental desire to create transformative digital solutions. We are dedicated to creating frictionless technological experiences that solve problems and significantly improve people's lives.
Learn more at www.elementsolutions.com
SOURCE Hinduja Global Solutions (HGS)
For Hinduja Global Solutions: Smita Gaikwad, [email protected], +91 789991607 or Thanuja B M, [email protected], +91 8971145454; or For Element Solutions: John Yoho, [email protected], +1 312-755-1845, http://www.teamhgs.com
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