BLS International Services Limited (‘BLS’) announces the acquisition of 100% stake in iData Danismanlik Ve Hizemet Dis Ticaret Anonim Sirketi and its wholly owned subsidiaries (“iData”). The company informs the exchange regarding acquisition on July 9, share price rose by nearly 5%.
BLS International acquires 100% stake in iData, a Turkey-based Visa and Consular Services provider, for an overall consideration of ~ Rs. 720 crores, funded through internal accruals and debt. This acquisition would further strengthen the overall BLS’ position as one of the leading international player in Visa and Consular Services. 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.
iData has achieved Revenues of ~Rs. 246 crores and an EBITDA of ~Rs. 144 crores in CY2023 (calendar year), as per its audited consolidated financials
Mr. Shikhar Aggarwal, Joint Managing Director of BLS International in press release stated that “We are delighted to announce the completion of the iData acquisition, which is ap pivotal inflection point in BLS’ growth journey and a testament to our strategic initiavities aimed at achieving our vision of becoming the leader in visa and consular services globally.”
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