Hinduja Global Solutions Limited (HGS) today announced that its subsidiary Hinduja Global Solutions UK Limited has entered into a definitive agreement to acquire 57 percent equity stake in Element Solutions for a consideration of US$ 5 million.
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 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.
Partha DeSarkar, Chief Executive Officer, HGS said "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."
Venkatesh Korla, Founder & CEO, Element Solutions said “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.”
Analyst firm NelsonHall recently named HGS as a LEADER in its Digital Marketing Services NEAT report 2018.
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